Onion rises as potato prices touch record low
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KARACHI: Onion prices have risen to Rs50-60 per kg from Rs25-30 some two weeks ago, while potatoes are selling at recored low prices.
Traders say onion prices may remain under pressure during the next month as well. “The price of any vegetable goes up whenever its crop comes to an end or new crop arrives,” said Haji Shahjehan, the president of Falahi Anjuman Wholesale Vegetable Market Super Highway.
He said that after the end of Sindh crop, the wholesale market is receiving onion from producing areas of Balochistan at Rs40 per kg.
More onion would be coming from Balochistan next month, and by June and July full crop of the province would hit the markets, he said. “Onion from some producing areas of Khyber Pakhtunkhwa would also start to feed Punjab and KP markets by June,” he added.
However, the welcome fall in potato prices at the same time has somewhat eased the burden on consumers’ pocket.
The commodity is in oversupply position due to bumper crop in Punjab. A few days back, pushcart owners were offering 5kg potato for just Rs50.
Shahjehan, the wholesale market’s president, said the rate of potato hovers between Rs6 and Rs10 per kg depending on the quality, while retailers are charging Rs15-20 per kg.
All Pakistan Fruit and Vegetable Exporters, Importers and Merchants Association Co-chairman Waheed Ahmed said that despite sharp drop in potato price, the exports have so far been slow because of various reasons.
The commodity is being exported to the UAE, Malaysia, Sri Lanka, China, Bahrain, Bangladesh, Russia, the Netherlands and Iran, among others. However, only 100,000 tonnes of potato had found way into these markets since January, he said.
“A glut-like situation exists all over the world as many countries have their own bumper crop of potato this year which has slowed down the demand,” he said.
He recalled that last year the wholesale price of potato was hovering around Rs50-60 per kg while the consumers paid Rs70-80 at retail stage despite the commodity’s import from various countries.
Published in Dawn, April 26th, 2015
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