Onion Prices in the past few days have witnessed an increase of around Rs 30-40 per kg at many places and the poor supply has forced the wholesale rates upward to a four-year high.
Minister of Food Civil Supplies & Consumer Affairs Department Phani Bhusan Choudhury held a meeting with the delegation of Chamber of commerce on Wednesday. According to the Chamber of commerce, the prices of onion may remain the same till January, next year.
Trade analysts suggest onion prices see a spike during this time of the year because of floods and illegal hoarding of onion ahead of the festive season.
The current spike in the onion prices is attributed to the excess rain this year due to which farmers could not harvest their crop in time, leading to an acute shortage of onion supply in the market.