Onion price increase supply decreased increased price. Prices of daily necessities have increased by around 60 to 80 percent in the last week.
The Agriculture Produce Market Committee (APMC) told traders in Bhasi that the rise in onion prices will not come under control until the fresh crop is delivered to the market by the first week of November.
Onion is selling at Rs 40 per kg in the retail market and traders say it can go up to Rs 50 per kg. At the beginning of the month, the price of onions in the retail market was Tk 15 to Tk 25 per kg.
Onion price hike ahead of Diwali, is stressful for common man. The product is an important ingredient in the kitchen.
According to the APMC administration, the old stock of onion has been depleted and there is no current supply, fresh supply is not coming from the farmers. “As onion has to be brought from stock (godown), the increase in purchase price is about 30 to 40 per cent more than a fortnight ago. The purchase price of onion is between Rs 30 to Rs 15 per kg,” said Munaf Patel, a trader.
But the price will come down next year only when rabi crops start coming between January and February. “Rabi onion occupies the market at 70 per cent of the total onion production. At the same time, kharif onion contributes very little but plays an important role in maintaining supply during September-November,” Patel said.
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Normally, APMC Vashi gets around 140 to 160 trucks and onion-laden trucks at the godown every day. However, this price increase is due to reduced number of trucks entering the market due to reduced supply over the past few days.
After Amul, Mother Dairy hiked milk price by Rs 2 per liter in select variants now onion prices are worrying people.