Onion prices have risen in most parts of India in the last one month and may spike further. Delay in kharif sowing caused by late onset of monsoon and a likely fall in area under cultivation have adversely affected supplies already, and the crunch may escalate by December, trade sources said.
Traders and farmers from Maharashtra say onion stocks are currently adequate in the state and may suffice to meet demand for the next three months. However, as there might be insufficient kharif crops, by December prices are likely to go up.
Currently the benchmark prices at Lasalgaon, Maharashtra, the hub of the country’s onion trade is in the range of Rs 800 – 900 per 100 kgs, which is at the same level since last one year.
However, according to the department of consumer affairs data, there has been a significant spike in average retail onion prices across all the five regions in the last one month.
[ Rs 100 = €1.10 ]
Source: financialexpress.com
