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Onion prices
Onion prices

Onion prices continue to spike, shortage continues from key supply states, govt intervenes

Onion prices have shot up to Rs 70 to Rs 90 in a matter of past ten days and the traders are blaming it on shortage from Maharashtra and Madhya Pradesh.

On its part, the central government has moved into announce that a minimum export price of 800 USD per tonne on a freight-on-board basis will be applicable from Oct 29 till Dec 31.

The government’s big move is being seen in view of the ongoing festive season and the election in multiple states.

The fresh Kharif onion should have started arriving by now but it has not. In Aug, to curb escalating prices, Union govt offered onions at subsidized rates. But despite these measures, onion prices are soaring again.
A buyer in Mumbai said, “The prices of onions have increased so much… The rate is Rs 80 per kg. It may become Rs 150 further…We request the government to decrease prices…”.