Onion prices in Nepal’s domestic market have seen a steep hike just a day after India banned onion exports. The Indian government banned export of all varieties of onions yesterday. Traders in the domestic market hiked onion price by Rs 15 per kg in the wholesale market today. The surge in onion price was even more pronounced in the retail markets.
Onion price in the domestic market saw a steep hike just a day after India banned its export. The Indian government banned export of all varieties of onions yesterday, citing drop in production in the southern states due to excessive rainfall.
Khom Prasad Ghimire, president of Federation of Fruits and Vegetable Entrepreneurs, blames traders for hiking the price of onions overnight to earn more during this crisis. “It has become a trend in our country whereby traders take advantage of any crisis to raise the price of daily essentials,” he said. “All wholesalers always have stock for at least a week, hence, onions should be sold at the same price for at least that period.”