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Home » business » Onion prices shot up to a 21-month high at Lasalgaon in Maharashtra

Onion prices shot up to a 21-month high at Lasalgaon in Maharashtra

Before September 18, the highest wholesale price of onion was recorded at Rs 3,400 per quintal on December 12, 2017

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Onion prices shot up to a 21-month high at Lasalgaon in Maharashtra

On September 18, India’s largest wholesale onion market, Lasalgaon in Maharashtra saw onion price shoot up to 21 months high, as its average wholesale price reached Rs 3,500 per quintal, as per a report.

A report said, on the same day in 2018 the price of onions was recorded at Rs 756 per quintal.

Before September 18, the highest wholesale price of onion was recorded at Rs 3,400 per quintal on December 12, 2017.

Since July 31 this year, the price has been almost tripled. The rate was recorded at Rs 1,250 per quintal at Lasalgaon.

The Agricultural Produce Market Committee (APMC) official said, “There has been a shortage of the commodity in the onion growing states of the country, leading to a sharp rise in demand for onions from Maharashtra.”

Asked about the high onion prices, Union Food and Consumer Affairs Minister Ram Vilas Paswan termed it a “temporary phase.”

“There has been a shortage of the commodity in the onion growing states of the country, leading to a sharp rise in demand for onions from Maharashtra,” the official told the publication.

The country exports on an average of 15 lakh tonnes of onions a year. India produces around 17-18 million tonnes of onion per year.

Lower food prices ease India’s WPI to 4.64% in November

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