Over the span of a week, onion prices have skyrocketed by 50% in the Delhi NCR market.
Digital Desk: The recent conclusion of general elections in India has coincided with a significant upsurge in onion and potato prices nationwide. Over the span of a week, onion prices have skyrocketed by 50% in the Delhi NCR market. This surge is compounded by the already elevated prices of green vegetables, attributed to the intense heat prevailing in the region. Concurrently, potato prices have also seen a substantial rise.
In Delhi's markets, onion prices have experienced a remarkable surge. On June 2, 2024, the retail price of onions averaged Rs 25 to 30 per kg, but by June 9, it had surged to Rs 35 to 40 per kg. Current reports as of June 11 indicate that the price of good-quality onions has now reached a significant Rs 50 per kg. Traders at Azadpur Mandi have reported prices soaring to Rs 40 per kg and anticipate further increases to Rs 50 per kg in the retail market.
Simultaneously, escalating potato prices have garnered attention, with ordinary varieties now fetching prices of Rs 35 to 40 per kg and premium chipsona or hilly potatoes reaching Rs 45 per kg.
The upcoming Eid-al-Adha (Bakrid) festival is expected to exacerbate the situation further, as demand for onions is anticipated to surge nationwide.
Traders have already commenced stocking up in anticipation of this heightened demand. Particularly, the average wholesale price of onions at the country's largest onion market, Lasalgaon Mandi in Nashik, has surged from Rs 17 to Rs 26 per kg, while the best quality onions have breached Rs 30 per kg. Consequently, an additional cost of Rs 5 to 7 per kg is expected to be incurred by the time these onions reach Delhi.
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