The average wholesale price for the Rabi crop, which is still being harvested, was Rs 5.50 per kg on Monday and Rs 4.85 per kg today. The Late Kharif crop (Rangda variety), whose stocks are depleting, was sold at an average Rs. 3.68 per kg on Monday and Rs 3 per kg today. The wholesale price of the new crop was in the range of Rs 4.50 per kg last week.

Prices of the late Kharif crop have shown a declining trend as stocks are depleting and farmers as well as traders want to sell them as quickly as possible due to their shorter shelf life. Further, farmers as well as traders are selling the newsummer crop cautiously. The tendency is to sell the summer crop for a higher price, as it can be stored for up to six months, much more than the both the Late Kharif crop and the Kharif (monsoon) crop.

Prices had dropped to Rs 1.80 to Rs. 2 per kg in the wholesale markets in Feburary due to a glut in the market as well as the ban on onion exports. The ban had been imposed in October 1997, when wholesale prices had skyrocketed to an all-time high of Rs 40 per kg.