Onion Price rises, reached this much in a month

Aug 23 2019 08:48 AM
Onion Price rises, reached this much in a month

New Delhi: Onion prices have once again started to trouble common man. Onion prices have skyrocketed during the past one month. The price of onion has registered a spurt of over 75 per cent during this period. Retail prices of onions have gone up to Rs 40 per kg. In the last five days alone, onion prices have jumped more than 20 per cent.

The fall in supply is being attributed to the spurt in onion prices. Rainfall in Maharashtra, Karnataka and Madhya Pradesh has brought down the crop. Moisture has also caused damage to crops. The Consumer Ministry has taken a meeting on the ever-increasing price of onion. Sources say the government may impose minimum export price on onions. The meeting has ordered strict action against hoarding.

With this, the retail price of onion in the crop store has been fixed at Rs 23.90 per kg. In order to curb prices, NAFED and NCCF have been ordered to sell onions in the open market. It has also been instructed to sell buffer stock in the open market. The price is expected to soften in two months when the new crop arrives.

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