Onion Prices to soar further this Diwali
Onion prices continue to soar in the country’s largest wholesale traders saying that could rise further during Diwali.

Wholesale onion traders of the Lasalgon Agriculture Produce Market Committee (APMC) said the widening gap between the demand and supply had pushed up the prices.

APMC source 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 30rupees per kg in Nashik. In other places of the country, the retail price could be about 50 rupees per kg.

Around 8000quintals were auctioned at Lasalgaon on Monday. On Friday, about 21,000quintals of onion were auctioned at Lasalgaon APMC. The summer crop has a shelf-life of up to five-six months and farmers prefer storing onions with the hope of getting better prices. Although farmers still have an adequate stock 20percent of their stock has been damaged or spoiled due to rains.