Apart from Delhi, onion prices have also increased in Karnataka and Maharashtra. Onion was available at Rs 65 to 70 per kg in Yesvantpur APMC of Bengaluru.
New Delhi: Traders and consumers express concern as onion prices continue to skyrocket in many cities including the national capital. The retail price of onion in the National capital reached Rs 90 per kg. Till Sunday, onions were available at Rs 80 per kg.
The main reason of the onion price hike was believed to be the delay in rains in Karnataka and Maharashtra. Because of the rain delay, the sowing of Kharif crop was delayed and subsequently, new onions did not arrive in the market on time.
Short in Supply Of Onions
Amid increasing price rise, a trader in Ghazipur Mandi told Indian Express that the inflow of the onion is low resulting in high rates. The onion rates are Rs. 350 (per 5 Kg) in Delhi and on Saturday, it was Rs. 300. The onion prices were Rs 200, Rs 160 or Rs 250 etc. The rates have gone up in the last week.
A vegetable seller said before Navratri, the rate of onion was Rs 50 and now it has reached Rs 70 per kg. “We have to buy at this rate. Earlier, the price was Rs 30 to 40 per kg,” he said.
Apart from Delhi, onion prices also increased in Karnataka and Maharashtra. Onion was available at Rs 65 to 70 per kg in Yesvantpur APMC of Bengaluru.
How Centre Plans to Control Price Rise
In the wake of these developments, the Centre has notified the Minimum Export Price (MEP) of USD 800 per Metric Ton (MT) on a FOB basis for the export of onions with effect from October 29 to December 31, 2023. The measure has been taken to maintain sufficient availability of onion to domestic consumers at affordable prices as the quantity of stored rabi 2023 onion is declining by curbing the number of onion exports. The MEP of USD 800 per MT translates into about Rs 67/kg.
Along with the decision to impose MEP on onion exports, the Centre has announced the procurement of an additional 2 lakh tons of onion for the buffer, over and above the 5 lakh tons already procured.
Onion from the buffer has been disposed of continuously from the second week of August in major consumption centres all over the country and also supplied to retail consumers at Rs 25/kg through mobile vans operated by NCCF and NAFED. To date, about 1.70 lakh Metric Tons of onion have been disposed of from the buffer.
