NEW DELHI: Rates of onions are likely to skyrocket throughout Diwali this year throughout the country. A considerable effect in onion prices will be seen in the coming days.
Prices of onions skyrocketed to Rs 6802 per quintal in Lasalgaon, Asia’s greatest onion market in Maharashtra, on Monday (October 19). This is likely to have a cascading impact on other markets throughout the nation.
It is to be kept in mind that onion traders were not pertaining to Mandi following the Income Tax raids on traders on October 14. Income tax authorities robbed 10 onion traders in Lasalgaon for thought tax evasion, resulting in an immediate halt in trading activities. The market remained shut on Thursday too as authorities continued to be on the premises doing documentation.
Trading was not performed on Friday as it was ‘Amavasya’, which is thought about inauspicious. The Agricultural Produce Market Committee (APMC) works half-days on Saturdays, whereas Sunday was the weekly day of rest. Thus, the auction could not be hung on either day.
Farmers are currently miffed due to the fact that of a ban on exports of the kitchen area staple.
On October 19, when the market opened, onion prices witnessed a sharp increase in its rate, by as much as Rs 2000 per quintal.
The factor for the price of walking is multiple. Mainly, several areas of Maharashtra got heavy rainfall in the last couple of days which harmed the onion crops. Onions from Karnataka’s Bengaluru were also destroyed due to unseasonal rains, causing a lack in supply of the crop throughout the nation.
In such a scenario, the price of onions is bound to increase and in the coming days it will start to increase.
Here’s Monday’s rate list of onions from Lasalgaon:
Kamal: Rs 6802/quintal
Sarasari: Rs 6200/quintal
Low quality onion: Rs 1500/quintal
Earlier in September, the government had decided to prohibit the export of all onion ranges, which compelled Lasalgaon, Nashik, and Maharashtra farmers to come out on the streets to protest against the Centre’s decision.