Onion prices are soaring. In Nasik’s Lasalgoan, India’s largest wholesale onion market, the price of the vegetable has almost doubled from Rs. 931 per quintal in May to over Rs 1700 per quintal. Almost a surge of 80%. Floods in Maharashtra, Karnataka, two of the highest onion producing states, have destroyed crops causing prices to go up.
Since May this year, onion prices have soared over 80% in wholesale markets like Maharashtra’s Lasalgaon. In India per person demand for onion is gone up to 13 kilos per year in recent years from 4 kilos in 2002-03. Demand for onion both in India and internationally is outpacing supply.