In the wake of a 57 per cent surge in the all-India average retail price of onions to Rs 47 per kg, the Indian government has decided to increase the sale of buffer onions at a subsidized rate of Rs 25 per kg in retail markets.
According to indiatoday.in, the all-India average retail price of onions rose from Rs 30 per kg in the same period the previous year. In the nation's capital, the retail price of onions reached Rs 40/kg on the same date, compared to Rs 30/kg in the previous year.
Consumer Affairs Secretary Rohit Kumar Singh has stated that buffer onions have been released into the market since mid-August, and the government is intensifying their retail distribution to curb further price increases and provide relief to consumers.
Onion prices up 60% in two weeks at Lasalgaon APMC
The average wholesale price of onions has seen a spike close to 60 per cent in the last fortnight at the Lasalgaon APMC. There has been an 18 per cent rise in the past week. On Wednesday, the maximum price for the best quality onion hit Rs 50/kg in Delhi as well as in some Maharashtra markets. Onion prices are expected to see a rise till December when the new kharif crop is expected to hit markets after a nearly two-month delay. The declining number of onions coming to markets is the primary reason behind the price hike.
[ Rs 100 = €1.10 ]
Source: deccanherald.com