Onion Prices have increased by 30-50 percent in the last fortnight due to Demand Supply mismatch

Onion Prices: A sharp increase in onion prices is being seen in the country. If we talk about the last 15 days, onion prices have increased by 30-50 percent. At present, the arrival of onion in the country i.e. its supply is decreasing, whereas before the arrival of Eid ul-Azha (Bakrid), the demand for onion has increased tremendously. Now the central government is expected to take some steps to control the rising prices of onion.

Onion prices shot up in Lasalgaon Mandi of Maharashtra

The average wholesale price of onion has increased a lot in Lasalgaon Mandi of Nashik, Maharashtra. On Monday, the average wholesale price here was Rs 26 per kg, whereas on the 25th of last month, this rate was Rs 17 per kg. However, the rate of the best quality onion in Maharashtra has crossed Rs 30 per kg in many wholesale markets of the state. Since their trade volume is less in the total onion sales, the average of their price does not show much effect on the total price.

why onion prices are increasing

The recent rise in onion prices is mainly due to the difference between demand and supply. The onions that are coming to the mandis and markets since June are from the stock that was kept by farmers and traders. However, farmers fear that there may be a decline in the Rabi crop of the year 2023-24, after which they expect an increase in the price of onion.

Farmers are hoping that the central government may now remove the export duty on onions and based on this expectation, stockists and farmers are storing onions. They feel that after the removal of export duty, the price of onions may go up significantly and at this time they are hoping to get a good price for their onions.

There is currently a slowdown in exports

Due to 40 percent export duty on onion export, its pace is currently slow. Since the festival of Eid ul-Azha (Bakrid) will be celebrated on 17 June, traders claim that the domestic demand will remain strong for some more time. The demand for onions coming from Maharashtra is continuously increasing, especially the demand is high from the southern states.

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