Onion prices rise, likely to reach Rs 40 a kg

With poor production owing to bad weather and diversion of stock to other states, the price of onions is likely to increase by almost 50% this month, said wholesale traders.

With poor production owing to bad weather and diversion of stock to other states, the price of onions is likely to increase by almost 50% this month, said wholesale traders.

From Rs 14 a kg in the wholesale market two weeks ago, the prices shot up to Rs 20-23 a kg on Thursday.

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The retail market prices, too, have increased from Rs 20 to Rs 30 a kg. The prices are likely to go up to Rs30 and Rs40 a kg in the wholesale and retail market respectively in February.

Traders blamed the shortage of stock in the Agriculture Produce Market Committee (APMC) market in Vashi for the soaring prices. While nearly 125-150 vehicles carrying onions used to come to the market earlier, the number has now gone down to 90-100 vehicles.