Since last week, onion prices have surged sharply in Delhi-NCR markets. Compared to Rs 30-50 a kilo last week, onion prices are now hovering around Rs 70-80 and are expected to reach Rs 100 by the first week of November.
Due to a lack of production and a shortage of supplies, the vegetable appears to be on fire. As a result of delayed harvests from Maharashtra and Madhya Pradesh, retail prices in Delhi, Noida, Greater Noida, Ghaziabad, Gurugram and Faridabad stand at Rs 60 a kg, up from Rs 40 a fortnight ago.
Both buyers and sellers have been surprised by the sudden increase in onion prices after the Navratri festival. Onions were sold at Rs 40-50 per kg a week ago, but now they are increasing daily.
In Bengaluru, the price of this essential kitchen ingredient has increased by over 50%. Maharashtra and Karnataka are also suffering from rising onion prices.
The Agricultural Produce Market Committee (APMC) Yard in Yeshwanthpur, Bengaluru, sold onions for Rs 65-70 per kg owing to irregular rains and drought.
As of October 26, the average wholesale price of onions rose to Rs 3,112.6 per quintal from Rs 2,506.62 per quintal on October 1.
As a result of low onion inflow, the prices are high. Today, they are Rs 350 (per 5 kg). Yesterday, they were Rs 300. They were Rs 200 before that. A week ago, they were Rs 200, Rs 160 or Rs 250. According to an onion trader at Delhi’s Ghazipur vegetable market, prices have gone up over the last week due to a shortage of supply.
In November, onion prices are expected to remain high, but they may drop in December due to the delayed arrival of the new kharif crop. The central government procured 2 lakh tonnes of onions in August 2023, and 5 lakh tonnes have been added to its buffer stock this year.
On the government’s instructions, NCCF and NAFED procured tonnes of onions and sold them at a retail price of Rs 25 per kilogram to ensure an adequate supply of onions in the domestic market.
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