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Onions price reaches ₹70 per kg in Bengaluru, likely to see further spike
The onion prices have reportedly mounted across the country as the rabi stock saw a steep decline and fresh Kharif stock is yet to arrive.
Onion prices across Karnataka saw a sharp spike after heavy demand amid the drought in the southern state. In Bengaluru, the onion prices touched ₹75 per kilogram and the price is likely to see further hike in upcoming days.
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According to reports, in a span of one week, onions in Bengaluru saw a price hike of 40 to 50 per cent per kilogram. On Sunday, a few Horticultural Producers' Cooperative Marketing and Processing Society (HOPCOMPS) stores sold onions for ₹75 whereas in the previous week, the price stood at somewhere between ₹40 to ₹45 per kilogram. The drought in the north Karnataka region which cultivates maximum onions is said to be one of the reasons for price hikes.
The onion prices have reportedly mounted across the country as the rabi stock saw a steep decline and fresh Kharif stock is yet to arrive.
Even in the national capital, the prices of onions started bothering the buyers. According to government data, the maximum price of onions has surged to around ₹70 per kilogram in the New Delhi-NCR region. This upward trend is likely to continue till December.
The Union consumer ministry said the onion is being offloaded from the buffer stock in both wholesale and retail markets in states where there is a sharp rise in prices. Since mid-August, about 1.7 lakh tonnes of buffer onion has been offloaded in 22 states at different locations.
