Onion prices may SHOCK you this Diwali

Nashik, Oct 10: Your Diwali may bring tears to your eyes this year as onion prices continuously rising in the India's largest wholesale market at Lasalgaon in Nashik, with wholesale traders saying that the prices could surge further during Diwali. Wholesale onion traders of the Lasalgaon Agriculture Produce Market Committee (APMC) said the widening gap between the demand and supply had increased the prices. According to a report in "The Times of India", The average wholesale onion prices have increased by 80% in the past 10 days at the APMC, with Monday, when the market reopened after the weekend, recording an increase of 21.33%. The average price of onions was Rs 2,451 per quintal on Monday as against Rs 2,020 on Friday.

APMC sources said the rise in wholesale onion prices was expected to get reflected in retail prices in the next few days. The retail price has already increased to over Rs 30 per kg in Nashik and may go up to Rs 35 per kg in the next few days. Elsewhere in the country, the retail price could be about Rs 50 per kg.

Speaking to TOI, Lasalgaon APMC chairman Jaydatta Holkar said, "The demand for onions from the southern parts of the country has increased significantly following scarcity. This has led to a rise in the wholesale onion prices in Nashik. Moreover, Lasalgaon and other APMCs in the district that deal with auctioning of onions will remain closed for a week during Diwali. Hence, wholesale traders have increased their onion procurement," Holkar added.