India News: Onion prices hit the roof in Mumbai
- 5 years ago
Mumbai: Onion prices in Mumbai are bringing tears to the eyes of consumers. Sky rocketing onion prices are leaving people across the country with no choice but to cut down on consumption of the vegetable.
At Rs. 40 a kilo, in Maharashtra the prices have shot up drastically in one week. While prices have shown a correction at the APMC market in Vashi, traders say prices will continue to rise. Sudham Borke, an onion trader at Nashik's Lassalgaon market says, "This situation is expected to continue for the next few days as there is still some time before fresh stocks arrive."
The price rise is a result of an acute shortfall in onion supply. A crippling drought in Maharashtra, the country's largest onion producing state, has affected supply in the domestic market. The situation has been made worse by torrential rains in states like Uttar Pradesh and Bihar leading to the crop rotting there.
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At Rs. 40 a kilo, in Maharashtra the prices have shot up drastically in one week. While prices have shown a correction at the APMC market in Vashi, traders say prices will continue to rise. Sudham Borke, an onion trader at Nashik's Lassalgaon market says, "This situation is expected to continue for the next few days as there is still some time before fresh stocks arrive."
The price rise is a result of an acute shortfall in onion supply. A crippling drought in Maharashtra, the country's largest onion producing state, has affected supply in the domestic market. The situation has been made worse by torrential rains in states like Uttar Pradesh and Bihar leading to the crop rotting there.
For More information on this news visit: http://www.itvnewsindia.com/
Connect with us on Social platform at: http://www.facebook.com/IndiaNewsTV
Subscribe to our You Tube channel: http://www.youtube.com/itvnewsindia