Onion Price: Amidst the rising price of onion, the government has taken another step, the prices will decrease!

Onion Price: Amidst the rising price of onion, the government has taken another step, the prices will decrease!

Onion Price Latest Update: Onion prices are increasing rapidly in many states of the country. In many cities including Delhi NCR, onion prices are being sold at around Rs 80 per kg. The price of onion has doubled since last week. Where once onions were being sold at Rs 30 to Rs 35 per kg, now they are being sold at Rs 75 to Rs 80 per kg. 

Some people believe that onion prices have increased due to shortage in supply due to monsoon. At the same time, the Central Government has started releasing stock from its reserves to reduce the prices due to high demand during the festive season. This stock has been issued in many states. 

Government will sell buffer stock in 16 cities 

Even before Diwali, the demand for onion as well as other vegetables has also increased. Due to this, the prices of onion have doubled in a few days, while the prices of other vegetables are increasing once again. According to Live Mint reports, the official said that the government will continue to sell onions in about 16 cities from its buffer stock to curb the current inflation. 

Where, how much price?

In the retail market of the country’s capital, the average price of onion is being sold at Rs 80 per kg, which was Rs 60 last week and Rs 30 two weeks ago. Onion prices are similar in other cities like Chandigarh, Kanpur and Kolkata. Retail market vendors say that they can go further. 

Export duty applied 

The government has set the Minimum Export Price (MEP) at $800 to reduce the price of onion on October 28. The government says that due to this imposed duty there has been a decline of 5 to 9 percent from the highest price. The wholesale price of onion in Maharashtra has decreased by 4.5 percent. 

Supply affected due to monsoon 

Weak monsoon from June to September has damaged the Kharif onion crop in Maharashtra and Karnataka, two major suppliers. This led to a delay in harvesting, while the stock of winter crop is almost exhausted and prices have increased again. 

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