Demand for onion increased before Bakrid, prices increased by up to 50 percent - Newztezz Online

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Tuesday, June 11, 2024

Demand for onion increased before Bakrid, prices increased by up to 50 percent


Onion is once again preparing to make common people cry. According to the report, in the last 15 days, the price of onion has increased by 50 percent in the wholesale markets. On the other hand, in the country's capital Delhi, the price of onion has increased by Rs 12.

In the last fortnight, onion prices have increased by 30-50 percent. The main reason for this is said to be the reduced supply. The special thing is that the demand for onion has increased before Eid ul-Azha (Bakra Eid). On the other hand, traders have started holding onion stock. Traders hope that the central government can reduce its intervention to control prices. On the other hand, if we talk about government figures, then in the country's capital Delhi, the price of onion has seen an increase of Rs 12 per kilogram in 10 days.

How much did onion increase

The average wholesale price of onion at Lasalgaon Mandi in Nashik on Monday was Rs 26 per kg, while on May 25, the same price was Rs 17 per kg. The price of top quality onions, which have a small share in the total traded volume, has crossed Rs 30 in many wholesale markets of the state. The main reason for the recent price hike is the difference in demand and supply. The onion that comes to the markets from June comes from the stock held by farmers and traders. Farmers are reducing their stocks as they expect prices to rise due to a possible fall in the 2023-24 rabi crop.

why the price of onion is increasing

However, due to 40 percent export duty, exports are also decreasing significantly. Traders claim that domestic demand for onions is strong for Eid ul-Azha on June 17. Vikas Singh, an onion trader from Nashik, Maharashtra, said in a media report that there is strong demand for onions from Maharashtra, especially from the southern states. Ajit Shah, president of the Horticultural Products Exporters Association, said in a media report that one of the main reasons for the increase in prices is that farmers and stockists are hoping that the central government may remove the export duty. Based on this assumption, they are holding onions in the hope that prices will rise.

What do the government figures say

According to the website of the Ministry of Consumer Affairs, onion prices are increasing. If we talk about June, the average price of onion has increased by Rs 1.86 per kilogram. On May 31, the average price of onion was Rs 32.12 per kilogram. Which has increased to Rs 33.98 per kilogram on June 10. At the same time, the price of onion has increased even more in the country's capital Delhi. On May 31, the government price of onion in Delhi was Rs 30 per kilogram. Which has increased to Rs 42 per kilogram on June 10. This means that in the month of June, the price of onion in Delhi has increased by Rs 12.

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