Onion Price Hike: After the record price of tomatoes in the country, now one more vegetable can loosen people’s pockets. According to media reports, onion prices may increase in most cities of the country. Some traders say that the monsoon has affected onion supply, which may reduce onion supply till December this year.
Government data shows that retail onion prices have increased significantly in five regions of Maharashtra in the last month. However, these prices are lower than last year. According to government data, the average retail price of onion in India in 2020 was Rs 35.88, in 2021 the average retail price was Rs 32.52 and in 2022 it was Rs 28.00 per kg. At the same time, onion prices have remained stable in the year 2023. However, its price may increase in the coming months.
The government bought a lot of stocks
The government has purchased about 0.14 million tonnes of onion stock from farmers about two months ago. Union Minister Piyush Goyal had said in April that the central government would keep 3 lakh tonnes of onion in buffer stock for the 2023-24 season. And last season 2.51 lakh tonnes of onion was kept in buffer stock for 2022-23. On the other hand, the Indian government reported earlier this month that onion production is projected to decline to 31.01 million tonnes in 2021-22 from 31.69 million tonnes.
Why is kept in buffer stock??
A buffer stock is kept to meet any situation and stabilize prices. This is done when supply is low and prices are rising. It may be noted that the harvesting of ravi onion takes place during April and it meets the demand of consumers till the harvesting of kharif crop in October-November.
In tomato prices 80 There has been an increase of Rs
Tomato prices have been affected due to first high heat and then incessant rain across the country. Crop failure due to rain and extreme heat has led to supply shortages in India. In such a situation, the price of tomatoes has increased from 10 to 20 rupees per kg to 80 to 100 rupees. That means there has been an increase of 70 to 80 rupees per kg. Apart from tomatoes, prices of other vegetables have increased in the wholesale and retail markets due to the weather.
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