Onion prices jump 75 per cent in two days,
Onion prices in the wholesale and retail markets have more than doubled in the past two weeks owing to a demand-supply gap .
A staggering 75% jump in average onion prices within two days at the Lasalgaon(Nashik, India ) wholesale market on Thursday has raised expectations that India may resort to imports to tame rising prices.
Onion prices at the benchmark market in Nashik shot up to a minimum of Rs 8 per kg and maximum of Rs 26.31 per kg on Thursday, up from Rs 5 per kg and Rs 19 per kg respectively a day before, and Rs 5 per kg and Rs 15 per kg on Tuesday.
The average onion prices at Lasalgaon (India) wholesale market spiralled from Rs 1,270 per quintal to Rs 2,300 per quintal - a jump of 81% — between Wednesday and Thursday, registering a 20-month high.
The spurt in prices at Asia's largest wholesale market for onions is expected to reflect in retail markets in the next 2-3 days. The retail price of onions in Nashik is expected to go up to Rs 30 per kg from the present Rs 20. The prices of the kitchen staple have already doubled from Rs 10 per kg to Rs 20 per kg in the last couple of weeks.
Onion prices in the wholesale and retail markets have more than doubled in the past two weeks owing to a demand-supply gap .