India: Onion prices remain elevated across key markets after sharp weekly rise

• Onion prices surge across major markets between Aug 17 and Aug 24
• Prices show mixed movement in the final week of August across key mandis of Maharashtra
  

Weekly onion prices across major markets tracked by BigMint increased sharply during the week ended Aug 24, with all five markets recording significant gains from Aug 17 levels. Prices then showed mixed movement in the following week, with some markets easing while others continued to strengthen.

Sharp gains recorded across major markets

Among the markets covered, Solapur recorded the highest price at INR 4,970/quintal on Aug 24, rising from INR 3,711/quintal on Aug 17, an increase of around 34%. Nashik prices rose nearly 45% during the same period to INR 4,836/quintal, the sharpest weekly increase among the five markets.

Pune prices increased from INR 3,337/quintal to INR 4,408/quintal, while Vashi prices rose from INR 3,069/quintal to INR 4,193/quintal. Ahmednagar recorded a comparatively moderate increase, with prices rising from INR 3,480/quintal to INR 4,407/quintal.

The broad-based increase indicates stronger price pressure across key Maharashtra markets during the week, with prices rising by more than INR 900/quintal in four of the five markets as arrival decreased at Mandi level.

Price movement diverges in the final week of August

The trend changed during the week ended Aug 31, with prices easing in Nashik and Solapur while continuing to rise in Pune, Vashi and Ahmednagar. Nashik prices declined to INR 4,407/quintal from INR 4,836/quintal, while Solapur fell to INR 4,727/quintal from INR 4,970/quintal.

In contrast, Pune prices increased to INR 4,515/quintal, while Vashi and Ahmednagar edged higher to INR 4,302/quintal and INR 4,425/quintal, respectively.

Despite the mixed movement, prices on Aug 31 remained substantially above Aug 17 levels across all five markets.

Market Outlook

Onion prices are likely to remain firm in the near term, with market movement dependent on arrivals, availability and regional demand. The correction in Nashik and Solapur during the latest week could indicate some easing after the sharp earlier rise, while continued gains in Pune, Vashi and Ahmednagar suggest that price pressure remains uneven across markets.