Onion prices at record high, hovering at Rs 80/Kg in Delhi
Looking at the market trend, traders pointed that in the coming days retail onion prices could soar up to Rs 100 per kg.
Zee Media Bureau
New Delhi: Onion prices in Delhi have shot up by close to 100 percent in the last couple of days to Rs 80 per kg. Looking at the market trend, traders pointed that in the coming days retail onion prices could soar up to Rs 100 per kg.
Traders at the mandi also noted that prices would cool down once the supplies of the new crop from Andhra Pradesh and Karnataka increase.
However NHRDF Director R P Gupta told a news agency that there is no shortage in production of onion and there is enough stock at godowns. It is difficult to say why prices are rising. It could be because of slow release of stock from godowns.
This is possibly for the first time that prices have risen in July and August, Gupta said, adding that new crop starts arriving from June.
Another official with NHRDF, which was established by co-operative Nafed, said traders resort to manipulation during the election year.
India has exported 6.39 lakh tonnes during April-July period of this fiscal compared with 6.94 lakh tonnes in the year-ago period. Production stood at 16.6 million tonnes in 2012-13.
With PTI Inputs