Onion prices have jumped by over 140% as of August 13 at Nashik market compared with Rs 15 per kg at the start of July, as per data compiled by National Horticultural Research and Development Foundation (NHRDF). The prices of onion at the country’s largest wholesale market Lasalgaon in Nashik are ruling at around Rs 36.11 per kg, due to fall in supplies. Lasalgaon wholesale market sets the price trend of onion across the country.
The government had already increased Minimum Export Price (MEP) of the commodity to $425 per tonne in order to arrest further increase in onion prices. It has also extended the ban on holding of its stock beyond the prescribed limit by one year. Besides, NAFED has already floated a tender to import 10,000 tonnes of kitchen staple from countries including Pakistan, China, Egypt.
The retail prices of onion is maximum in Varanasi hovering at Rs 55 per kg, followed by Rs 50 per kg in Kanpur, Shimla and Mandi, as per Consumer Affairs Department data.