Onion Prices Might increase
Asia biggest onion market, Lasalgaon (Nashik), did not auction onions on Thursday due to a dispute between onion traders and laborers over wages. After government intervention, the market reopened on April 24, 23 days later, but it was shut down again by traders just a day later.
Impact on Farmers and the General Public:
If this conflict is not resolved soon, it will directly affect farmers and the general public. Onion prices may also increase in the coming days.
Losses for traders: Traders have incurred losses of ₹700 crores due to the closure of the onion market so far. Meanwhile, farmers are also disappointed with the price of ₹1,500 per quintal.
What traders say: Onion traders say that the market has been closed for the past 20 days. The market reopened a few days ago, but no solution has been found even after the district administration’s intervention. Therefore, the market is currently closed. It is hoped that the market will reopen once this dispute is resolved.
Reasons for the market closure: Onion traders want to increase wages, while laborers are adamant about it. The strike by laborers is preventing the transportation of goods. This directly impacts the buying and selling of onions.
What will happen next:
- Discussions are ongoing between the government and both parties.
- There is hope for a resolution to this dispute soon.
- Stability in onion prices is expected only after the market reopens.