Onions price increase: Wholesale onion price rises 58% to ₹38/kg at Lasalgaon APMC

livemint.com:

₹38 per kg, which is a 58 percent increase from ₹24 per kg two weeks ago. In the National Capital Region, retail prices of onions have risen by 25-50 percent. Currently, onions are being sold at ₹50-70/kg.

The highest price for top-quality onions reached ₹50 per kg in Delhi on Wednesday, as well as in certain markets in Maharashtra. Track our Cost of Living LIVE Updates here In Ahmednagar, the average onion prices have risen from about ₹35/kg to ₹45/kg in 10 days. Similarly, wholesale onion prices in most of the onion-growing districts in Maharashtra now range between ₹45-48/kg.

Onion prices are projected to continue rising until December, coinciding with the arrival of the delayed new kharif crop, which is expected about two months late, the report added. The declining arrival of onions in the markets is the primary factor contributing to the rise in onion prices. Over the past fortnight, arrivals of stored onions have dropped by about 40 percent, decreasing from approximately 400 vehicles per day (10 tonnes each) to about 250 vehicles, the report added.

This situation is expected to persist as the arrival of new red onions from the kharif season is delayed by approximately two months, Nandkumar Shirke, chairman of the Association of Onion Traders of Ahmednagar District told the paper. The central government had on August 25 imposed a 40 percent duty on onion exports when prices began to rise due to delayed and reduced kharif crop sowing. Additionally, the government started selling onions procured by Nafed in wholesale markets below prevailing market rates to curb rising prices."Exciting news! Mint is now on WhatsApp Channels