Tuesday’s average retail price of an onion in the nation’s capital stayed high at Rs 78 per kilogramme, despite a slight decline in wholesale pricing in Maharashtra, the state that supplies most of the onion needed for exports due to export restrictions.
According to the most recent government data, the average retail price of onions in India climbed by Rs 3.40 per kg from yesterday to Rs 53.75 per kg on Tuesday.
Prices for onions in the nation’s capital began to rise on October 25 at Rs 40 per kg, and on October 29 they doubled to Rs 80 per kg.
However, prices decreased slightly to Rs 78 per kg on October 30 and stayed there on Tuesday as well, according to data from the ministry of consumer affairs.
In comparison to other states and union territories, Delhi now has the highest average retail onion pricing.
Goa and Puducherry saw the second-highest price increase, with an average retail price of Rs 72 per kilogramme on Tuesday. Retail rates in other states ranged from Rs 41 to Rs 69 per kilogramme.
According to official sources, prices in both wholesale and retail markets across the country have shot up purely due to speculation despite 15-20 lakh tonnes of rabi crop stock available in Maharasthra that is sufficient to meet the demand for a month.
The two-week delay in arrival and the probable decline in fresh kharif supply cannot be the only explanation for the abrupt increase in onion prices. According to the sources, the government has kept 5 lakh tonnes of buffer stock on hand and there is sufficient old crop stock to meet domestic demand.
Additionally, the sources stated that the minimum export price of USD 800 per tonne of onions, which was imposed on October 29 and would remain in effect until the end of December, is aiding in the cooling of prices, particularly in Maharasthra, where prices fell by 4–10% on October 30.
The kharif crop has begun to arrive in mandis in minor amounts, but larger quantities are expected to arrive from the major agricultural states of Karnataka, Maharasthra, and Andhra Pradesh starting in the second week of November.
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