On account of heavy rains hitting the onion yield in Karnataka, the delivery of famous red onions, that used to hit the mandis ahead of the festival season, are expected to get delayed by 2-3 months. Since Karnataka is a major onion producer state in India, its toll became visible in other state onion mandis. Onion price in Lasalgaon, Maharashtra shot up by Rs 600 per quintal on Thursday compared to the onion price on Monday. Onion price in Lasalgaon mandi was Rs 3800 per quintal on Monday, while on Thursday, it shot up to Rs 4400 per quintal.

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

As per the Lasalgaon onion mandi reports, onion reaching to this mandi is categorised in three types — very good, good and bad. The very good quality onion price in Lasalgaon mandi on Thursday was Rs 4400 per quintal while good quality onion price in Lasalgaon was Rs 3501 per quintal while bad quality onion (mainly very small in size) were priced Rs 1000 per quintal.

See Zee Business Live TV streaming below:

Reason for rise in onion price

Usually ahead of the festival season, red onions from the Karnataka hit the mandis and the retail onion market. But, due to the heavy rains in Karnataka this year, the entire crop got wasted and the new yield is expected to come after 2-3 months. Hence, one can expect Red Karnataka Onion 2-3 months later and till then demand-supply constraint will continue to hit the pockets of public in general.

Hit on festival mood

The way onion prices are rising and expected to further go northward, it may have a big hit on the pockets of the public in general in next 2-3 months. Since, majority of the festivals fall in these 2-3 months, it is likely that soaring onion prices may hit the monthly kitchen budget of the public in general affecting their festival mood as well.