Onion prices shoot on export demand

Rise in export demand coupled with damage to the existing stock because of relentless rains has sharply pushed up retail price of onion and potato in the last few weeks. At Lasalgaon near in Nashik, Asia’s biggest onion wholesale market, prices have jumped to Rs 1,800 per quintal on Tuesday from Rs 1,000 per quintal a month back, a rise of 80%. “Maharashtra has onion stocks of 7.5 lakh tonne at present while rest of the growing states stocks do not have sizable stocks,” CB Holkar, president, National Horticulture Research and Development Foundation (NHRDF), told FE. According to department of consumer affairs data, retail prices of onion in key metros such as Delhi, Kolkata and Mumbai have increased by 91%, 92% and 75%, respectively, during August 2 and September 20. Source : http://www.financialexpress.com/news/Onion-prices-shoot-on-export-demand/685491/