San-Francisco based Premise noticed the upward trend in onion prices much before the crisis came to a head in India
New Delhi/Mumbai: In March of 2013, onion prices in India began to climb steadily; by August, they had reached ₹ 80 a kg in some cities, making regular headlines and prompting editorials referring to “the great onion crisis of 2010". By late September, when the wholesale price index for onions touched an all-time high of 845.6, the new governor of the Reserve Bank of India (RBI), Raghuram Rajan, raised policy rates. Rajan later told reporters that food inflation was “worryingly high".
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