Rain halts morning session of Lasalgaon onion auction
Nashik: Intense rainfall disrupted the onion trading activities at the Lasalgaon agriculture produce market committee, the nation's biggest wholesale onion market, in Nashik district on Wednesday morning.
Moreover, the wholesale onion rates at Lasalgaon saw a 20% increase on Wednesday, reaching Rs 1,375 per quintal — up from Saturday's Rs 1,150 per quintal. The rainfall-induced supply shortage contributed to this price surge.
At the Lasalgaon APMC, onion trading sessions operate twice daily: morning hours from 9.30am to 12.30pm., and afternoon hours from 3.30pm. to 6.30pm. The severe rainfall at Lasalgaon on Wednesday morning caused authorities to suspend trading at 10.30am, ending the morning session prematurely.
Trading activities resumed at 3.30pm after the rainfall subsided.
Narendra Wadawane, the secretary of the Lasalgaon APMC, told TOI, "Around 4,900 quintals of onions, brought by farmers on 240 tractors and pick-ups, were auctioned in the first hour of the morning session before the rain started. The auction could not take place after 10.30am, but it resumed in the afternoon session at 3.30pm."
The combined trading volume for both sessions totalled 15,484 quintals.
Wednesday's trading at Lasalgaon APMC recorded an average wholesale price of Rs 1,375 per quintal, with prices ranging between Rs 700 and Rs 1,960 per quintal.
APMC officials reported that onion arrivals decreased from an average of 15,000 quintals to 7,000 quintals on Monday and Tuesday, causing the average wholesale price at Lasalgaon to rise from Rs 1,150 per quintal on Saturday to Rs 1,375 per quintal on Wednesday.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hans India
20 minutes ago
- Hans India
Odisha becoming industrial powerhouse: CM
Bhubaneswar: Odisha is no longer the minerals hub of India, it is becoming a diversified industrial powerhouse, Chief Minister Mohan Charan Majhi said on Sunday. Majhi made the statement while interacting with industrialists at Lok Seva Bhavan, ahead of the first anniversary of his government. 'Odisha is no longer just a minerals and metals hub. We are becoming a diversified industrial powerhouse, where opportunity flows from port to plant and from cities to every aspirational district,' he said. The State is growing across 20 sectors -- from mining, metallurgy and metal downstream to emerging opportunities in chemicals, food processing, apparel and textiles, he said. Majhi spoke about the measures his government has taken to help industries. 'One year ago, the people of Odisha placed their faith in us to build a future that is inclusive, aspirational and transformative. Today, as we reflect on this first year, we do so with pride, in our progress and renewed commitment to the journey ahead,' he said. Maintaining that his government was focused on job creation, he urged the industrialists to join the journey of making the State an industrial powerhouse. 'Over the last year alone, 206 large projects were approved -- nearly double the average of the previous five years. These represent a total investment value of over Rs 4.5 lakh crore and an employment potential of nearly 2.9 lakh jobs,' he said. 'Since the Utkarsh Odish summit, 56 projects have already been taken up for ground-breaking and inauguration, with a combined investment of over Rs 1.78 lakh crore, and employment potential for Odisha industrial development, Mohan Charan Majhi, minerals to diversified industry, job creation, investment in Odisha, governance and reforms 1.1 lakh people. These numbers reflect not only our speed, but scale and substance,' he added. Attacking the previous Naveen Patnaik-led regime, Majhi said in many ways, his government has achieved more in this one year than the past five years combined through quiet, focused and committed action. In the coming year, he said the government will focus on four key priorities. 'First, the government will bring new policies that unlock emerging sectors and offer global competitiveness. Secondly, the government will expand the State's land bank and industrial infrastructure to meet future demand. Third, we will revamp our single window system and develop a modern, integrated project tracking platform. Fourth, we will work to deregulate and simplify burdensome rules and processes,' he said. He asserted that the next four years will lay the foundation for a prosperous Odisha.
Business Standard
25 minutes ago
- Business Standard
Kernex Microsystems hits the roof after JV secures Rs 183-cr KAVACH order from Western Railway
Kernex Microsystems (India) frozen at its upper limit of 5% at Rs 1,292.90 after the company announced that its joint venture, the Kernex-KEC Consortium, has received a letter of acceptance (LoA) worth Rs 182.81 crore from Western Railway. The contract involves the provision of KAVACH Version 4.0 or the latest (formerly known as Train Collision Avoidance System TCAS), including the deployment of a communication backbone based on UHF and OFC on the PalanpurSamakhiyaliGandhidham section under the Ahmedabad Division of Western Railway. The project is valued at Rs 182.81 crore and is scheduled to be executed within 730 days. Kernex holds a 70% stake in the consortium. Kernex Microsystems (India) is engaged in the manufacture and sale of safety systems and software services for railways. The company's consolidated net profit surged 358.2% to Rs 32.59 crore on an 829.9% rise in total income to Rs 83.69 crore in Q4 FY25 over Q4 FY24.
Business Standard
26 minutes ago
- Business Standard
Indian Rupee: Seen extending upside amid dollar weakness
The Indian rupee is seen extending upside in opening trades on Monday as weak dollar, lower oil prices and expectation of a positive start to local equities support. Rupee opened higher at Rs 85.61 per dollar and hit a low of 85.60 so far during the day. On Friday, INR saw good gains against the US dollar after the Reserve Bank of India (RBI) cut interest rates by half a percent, continuing to witness good support around 86 threshold. RBI has slashed its key lending rate, or the repo rate, by 50 basis points to 5.5% amid softening inflation. INR added 16 paise at 85.64 per US dollar. Local stocks soared following this with the NIFTY50 index zooming up 1% to hit 25K mark. Reserve Bank of India (RBI) Governor Sanjay Malhotra also noted that with the moderation in trade deficit in Q4:2024-25, alongside strong services exports and remittance receipts, the current account deficit (CAD) for 2024-25 is expected to remain low. On the NSE, USDINR pair eased slightly to 85.73 tracking loses in dollar overseas.
