Onion prices soar; witness 60% surge in just one week; check rates
New Delhi, August 18: Following the trend set by tomatoes, the cost of another essential vegetable, namely onions, is experiencing a significant surge across the nation. In just one week, the retail rates have escalated by almost 60 per cent.
Having stood at Rs 25-30 per kg merely a week ago, onions are currently commanding a price of Rs 40-45 per kg in prominent urban centres. Notably, larger retail establishments have already marked up the price to Rs 50 per kgm. In the capital city of Delhi, vegetable sellers are vending onions at Rs 45 per kg.
According to the Price Monitoring Division of the Department of Consumer Affairs, there has been a noteworthy surge in the wholesale cost of onions in Northern India this month.
In Nashik, Maharashtra, which harbors the country's largest wholesale onion market, the wholesale price of onions has witnessed a sharp ascent of 45 per cent, escalating from Rs 1,651 per quintal on August 2 to Rs 2,400 per quintal on August 14.
Analysts attribute the ongoing surge in onion prices to limitations in supply. The untimely rainfall experienced in April, spanning crucial onion-producing states such as Maharashtra, Madhya Pradesh, and Rajasthan, has adversely impacted the longevity of stored rabi crops.
According to experts, there is a likelihood of onion prices escalating even further in September. An expert stated, "It is anticipated that the price of onions might reach a three-digit figure next month. We can expect relief when the kharif crop is harvested in the months of October and November."
- With inputs from agencies
