Onion Price Hike: Know Why Market is Witnessing Rise in Onion Prices Ahead of Diwali

28 Oct, 2023 Author: Ayushee Joshi

Onion Price News: After tomatoes, onion prices are steadily rising in the run-up to Diwali. The daily used vegetable, which was selling for Rs 35 to 40 per kg last week, has suddenly risen to Rs 60 to 80 per kg. This price increase has occurred in the previous two days. Furthermore, onion prices will continue to rise and are likely to hit Rs 100 per kg.

Why Onion Prices Are Rising?

Vegetable dealers claim that the scarcity of onions in the market is the cause of the increased costs for onions and that the new products should arrive at the market by November or December. The price of onions today is Rs 350 per 5 kg. The previous day, it was Rs 300. In contrast, the rates were between Rs 200 and Rs 250 a week ago. The past week has seen a further spike in prices. The government claims that both the wholesale and retail sectors are receiving their supply of onions from “buffer stock” in states where prices are rapidly increasing.