Onion prices have surged up to 40% in the last week due to supply shortages. Delay in stock arrivals have also been reported in nationwide mandis.
Prices of the kitchen staple shot up to Rs 80 per kg in Delhi as against Rs 55 on October 31. It's being sold in the range of Rs 50-80 per kg in other cities, as per official data from consumer affairs ministry.
In August and September, onion prices had touched Rs 80 per kg. Experts are of the view that the sharp swings in its prices would continue for another month until the late crop reaches the wholesale markets, the Times of India reported.
"There will be a sharp fall and increase in prices as the availability of onions in the market is less and farmers are hardly left with any stock. Usually, the winter crop reaches mandis by November 1," Satish Bhonde, former additional director of National Horticulture Research and Development Foundation told the news daily.
"But this year the crop has been damaged in many parts of the country due to rains. There will be adequate availability of the crop by this month-end," he added.
As per reports, traders dread the unseasonal November rains may cause a further spike on the prices of the kitchen staple. The intermittent rains have lashed key onion growing zones such as Nashik, Ahmednagar and Pune in the last two weeks causing extensive damage to the staple crops.
Amid soaring onion prices, the centre on Tuesday said it would relax fumigation norms and facilitate import of the key kitchen staple from Afghanistan, Egypt, Turkey and Iran to boost domestic supply.
A decision in this regard was taken at the meeting of an inter-ministerial committee, headed by Consumer Affairs Secretary Avinash K Srivastava, which reviewed the prices and availability of onions in the country.