Onion prices have doubled to Rs 60-70 a kg in retail markets in the national capital in the past few days due to supply crunch, prompting the government to call an emergency meeting to review export of the important agri produce.
The prices, which were already high at Rs 35-40 a kg, rose astronomically since Sunday when it skyrocketed to Rs 60-70 a kg in the retail outlets in Delhi and surrounding areas.
The wholesale price of the onion has soared to Rs 30-60 a kg in Azadpur market (Asia's biggest fruit & vegetables market) from Sunday onwards, sources said.
Traders attributed the phenomenon to supply crunch due to unseasonal rains in Maharashtra, Gujarat and Southern states, bulk producers of the vital produce.
"Supply of onion has dipped almost by 50 per cent in the Azadpur market," General Secretary of Chamber of Azadpur Fruit & Vegetables, Rajendra Sharma, told PTI.
Only 80 tempos (each one carrying 9 tonnes) and 20 trucks (each truck carrying 15 tonnes) arrived in the Azadpur market on Monday from Rajasthan, Maharashtra and Gujarat, Sharma added.
Surendra Bidhi Raj, a trader, said the rise in onion prices is due to large-scale export of the produce to gulf countries and neighbouring countries like Sri Lanka and Bangladesh.
Traders unanimously said the supply crisis is expected to continue for another 15 days, till there is a pick up in arrival of fresh produce from Nashik in Maharashtra and Gujarat.
Maharashtra is the largest producer of onion in the country.
Concerned over rocketing of prices of onion the government has called an emergency meeting on Monday to review the export of the produce.
"The meeting will discuss whether to ban export of onion or further raise the Minimum Export Prices (MEP) of the produce," sources in NAFED said.
High onion prices had forced agri-cooperative NAFED to increase price of onion to $525 a tonne on November 15, to ensure the produce is made available in the domestic market in good quantity.
NAFED had on December 1, kept the price unchanged at the same level ($525 a tonne) to maintain good arrival of the produce in the domestic markets.
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