New Delhi: Consumers are unlikely to get any respite from the skyrocketing onion prices, ruling at Rs 24-28 per kg in retail markets for the last few weeks, at least for the next 15-20 days till the new crop arrives, traders said.
The wholesale prices of onion, a politically sensitive commodity and an important ingredient in any Indian cuisine, on Monday soared to Rs 2,125-2,375 a quintal in wholesale markets in the national capital with arrival of about 1,050 tons, they said.
Onion prices in the wholesale market was Rs 1,450 a quintal last week against Rs 1,043 a year ago. The arrivals in the Delhi wholesale markets on September 28 was 805 tons.
High demand in the festival season would continue to put pressure on onion prices, which the traders feel could further rise in the next couple of days.
“Onion rates in Azadpur mandi have increased today to Rs 850-950 for 40 kg," said Sher Singh, a trader at the local wholesale market.
Singh attributed the increase in the rates to high demand due to festival season and not on low arrivals. "There is no problem in arrivals but the demand is so high that whatever quantity reaches is immediately sold despite high prices," he said.
He said prices were expected to touch Rs 1,000 level (for 40 kg) in next couple of days.
Asked when the prices would ease, he said the new crops were expected to come into market in the next 15-20 days and only then softening in the prices could be seen.
Nafed Managing Director Alok Ranjan had last week said that Kharif crop would arrive in the market by October 15, after which the prices would start softening.
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