Rising onion prices over the past few weeks are giving a hard time to consumers. Stockists are making the most out of the situation.
Despite the government increasing the minimum export price (MEP) and allowing imports to raise domestic supply, the onion prices are showing no sign of cooling off.
The prices of onion have shoot upto Rs. 80 per kg in Delhi, prices of pulses have also gone up considerably in the past three weeks. It is being said that the retail price may touch to Rs. 100 per kg or even more as supply is deficient and farmers in Maharashtra are waiting for rain to sow their late kharif crop.
The average price at Lasalgaon in Maharashtra’s Nashik district rose to Rs. 57 a kg on Saturday, breaking the previous record of Rs. 55 hit in September 2013.
To improve supply to markets by discouraging its exports, the government on Saturday increased the MEP of onions to $700/tonne.
The shortfall has primarily been on account of adverse weather conditions, including unseasonal rains which have impacted both the standing and harvested crop at major producing centres, it added.