Onion Prices Likely to Rise to Rs 50 Per Kg During Diwali Season

Mumbai, October 22: Prices of onion are expected to cross Rs 50 per kg mark in coming days. Currently, onion is sold between Rs 30-40 in Delhi. As per reports, wholesale prices of onion have gone up by 100 per cent at Lasalgaon Agricultural Produced Market Committee (APMC) over the past few days. There is a 100 percent jump in the average wholesale price of onion from Rs 10 per kg to  Rs 20 per kg during last 10 days at the Lasalgaon APMC.  It also the benchmark market which sets prices of onion across the country.

Due to a drought-like situation in Maharashtra, the supply of onions are expected to be low. The supply of onions will also reduce further as the wholesale market in the state will remain closed due to Diwali. Similarly, the wholesale onion markets in Nashik district will also remain closed during Diwali break. Onion and Potato Merchants Association (Azadpur 'mandi') General Secretary Rajendra Sharma told news agency PTI, "There has been Rs. 7-10 per kilo increase in wholesale rates of onion in the last ten days.” He further said that farmers not started harvesting because of the ongoing festive season break. Tomato Prices Dropped To Rs 2 Per Kg; Farmers Unable To Recover Transportation Cost

Currently, onions which are being sold in the markets are from stored stock. According to traders, the supply of Kharif crop is likely to reduce as there is no rain during Navaratri. In addition to this, an increase in heat waves in the state also is one of the reasons for the low supply of onions in the market. There is a shortage of around 60 percent in the supply of onions to wholesalers.

(The above story first appeared on LatestLY on Oct 22, 2018 04:00 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).