Onion Prices amidst festive season may hit century soon! No signs of sooner cost reduction

• Image Credit: google

• Oct 28, 2023 | Poonam Nath

Wholesale onion costs have also climbed significantly. Onions are expected to sell for Rs 100 per kg...

Digital Desk: In a significant development on high onion prices in every market across the country, onion has begun to be sold in stores for Rs 70-80 per kilogramme, depending on the market. Given the market, wholesale onion prices have risen dramatically. Onion prices, on the other hand, are projected to sold for Rs 100 per kg by the eve of Diwali.

Before two days, onions were sold for Rs 20 per Kg in the market, within these two days prices were seen plummeting causing the general public a disturbance to run their kitchen.

If onion prices continue to climb at this rate, they will soon approach historic highs of Rs. 100 per kg.

Due to limited domestic production, the market price of onions has risen rapidly. 

Assessing the market, if supply and demand for onions stay constant, the average citizen will have to pay Rs 100 per kilogramme for onions before Diwali. Onions are currently selling for Rs 70-80 per kilogramme, depending on market conditions.

"The price of onions varies seasonally. Every year, prices rise in October and November as the supply of the Rabi crop, which arrives in April, steadily depletes. The Kharif crop is about to arrive, and it is also festival season, so prices frequently rise during that time," Consumer Affairs Secretary Rohit Kumar Singh remarked.

The government has purchased 5 lakh metric tonnes of onion to keep prices under control, according to Singh. "Out of which 1.5 lakh tonnes have already been released, and we are buying 2 lakh tonnes more for the buffer," he added.

Looking at the states, The Ministry of Consumer Affairs officials stated, that the price increase was caused by the late arrival of fresh harvest from important producing regions such as Maharashtra and Madhya Pradesh.

Aside from Delhi-NCR, the rise in onion pricing has been seen in other markets across the country. 

In Karnataka, the rate of growth has increased by around 50%. The recent rates in the Agricultural Produce Market Committee (APMC) in Yeshwanthpur, Bengaluru, are reported to have reached 65-70 per kg.