The city of Pune is currently witnessing a significant spike in onion prices, with the rates hitting the range of ₹45 to ₹50 per kilogram. This upward trajectory in prices is primarily attributed to a decrease in supply and a simultaneous surge in demand, a trend observed across the state over the past two weeks. To put it in perspective, in the first week of October, onions were available at the relatively lower price of ₹20 to ₹25 per kilogram. However, as of Thursday, the prices have risen to ₹40 per kilogram.
Farmers and traders have reported a remarkable 58% increase in the wholesale cost of onions at India’s largest market, the Lasalgaon Agricultural Produce Market Committee in Nashik, over the past 15 days. This surge is predominantly linked to a reduction in the total sown area in the state, which is a consequence of decreased rainfall.
In the Market Yard Pune, traders have noted a continuous increase in onion rates, with the per quintal price reaching ₹3,000. As a ripple effect, these elevated rates have translated to higher costs in the retail market as well. Consequently, this week, the price of onions in the retail and vegetable markets of Pune has been hovering between ₹40 and ₹50 per kilogram.
