The wholesale and retail prices of onions have doubled from ₹1200 per quintal in August to ₹2,400 in the first two weeks of September 2020.
The average wholesale onion price at the Lasalgaon APMC, the country’s largest wholesale onion market, has increased by 15% due to a rise in demand.
The average wholesale price at the Agricultural Produce Market Committee(APMC) was recorded at ₹2400 per quintal on September 9, 2020.
Wholesale onion prices have almost doubled over the past 11 days, from ₹1200 per quintal in August last week to ₹2,400 per quintal, and retail prices have touched ₹50 per kg in Mumbai and Pune, and even ₹70 per kg in Delhi.
The average wholesale onion prices are expected to go beyond ₹3500 per quintal according to the APMC sources, in the next couple of days.
APMC officials had further stated that it would take one and a half months for fresh Kharif onions to hit the market, and the price trend will be upward until then.
In Nashik city’s retail markets, onions are sold at ₹30 per kg. The fresh rise in wholesale prices is expected to reflect in the next couple of weeks.