Onion Prices Hit 50/kg in Kolkata

The Economic Times - - Finance & Commodities -

New Delhi: Re­tail onion prices rose to .₹ 50 per kg in Kolkata, while rates in other metro cities also inched up to .₹ 30-36/kg due to tight sup­plies. The Agri­cul­ture and Con­sumer Af­fairs min­istries are closely watch­ing the price sit­u­a­tion and alerted all states to keep a check on hoard­ing and prof­i­teer­ing.

Onion prices at Lasal­gaon in Ma­ha­rasthra, Asia’s big­gest whole­sale onion mar­ket, have risen to .₹ 26.50 per kg on Thurs­day from .₹ 10.10 per kg on July 25 of this year.

As per data main­tained by the Con­sumer Af­fairs Min­istry, onion prices in Kolkata are rul­ing at .₹ 50/kg in re­tail mar­kets and .₹ 40/kg in whole­sale mar­kets on Friday.

At present, the city’s de­mand is met through sup­plies largely from Kurnool man­dis, Andhra Pradesh and there too rates have in­creased to over .₹ 32.50/kg. With rise in prices in Lasal­gaon, traders from Kolkata and other states are buy­ing more from Kurnool man­dis be­cause of which rates have gone up there, a Delhi trader said. Prices are un­der pres- sure due to de­plet­ing old stock and ex­pected less 2017-18 kharif out­put owing to lower sow­ing area in states like Kar­nataka and Ma­ha­rash­tra on ac­count of in­ad­e­quate rains, he added.

Prices are un­der pres­sure due to de­plet­ing old stock and ex­pected less 2017-18 kharif out­put owing to low sow­ing area

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