50 Percent Increase In Onion Prices In The Last 2 Weeks
Hyderabad, June 11 (Maxim News): Onion prices have been on the rise for the past two weeks due to dwindling supplies. Onion prices have risen by 50 percent recently due to a lack of supply to meet the increased demand and consumers are facing difficulties.
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In Nasik, the biggest onion market, the price of onion per kg on Monday was Rs. 17 and has increased to Rs. 26. The price of quality onion per kg in many wholesale markets across the country is Rs. 30. Traders say farmers not taking out onion stocks is also impacting supplies due to expectations of reduced 2023-24 Rabi yields, which could push up prices.
Nasik based onion trader Vikas Singh said that there is a huge demand for Maharashtra onion from southern states. Singh said that farmers and stockists are hopeful that the central government will remove the export duty, and farmers and traders are stocking large quantities of onion due to the expectation that the prices will increase, which is why the prices of onion are skyrocketing. Traders are saying that onion prices are likely to increase further in the coming days, but consumers are worried about the price of onion. (Maxim News)
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