Onion Prices News

Finance minister Nirmala Sitharaman while speaking in the parliament addressed the issue of inflation and spike in prices of essential commodities like tomatoes, onions, and lentils. To offer relief to the common man from skyrocketing prices, she announced that NCCF is procuring tomatoes from surplus states and making them available at subsidised rates across the country.

When RBI analysts start to write articles worrying about something you know things might be getting out of hand. Off late, if there’s one thing that seems to be slipping out of everybody’s hands, it's tomatoes. Soaring tomato prices across the country have caught the attention of RBI analysts, who think, the spike in tomato prices is a serious concern. If unchecked, the last-mile battle to keep inflation under control can prove to be difficult.

Basically, bad weather led to a disruption in supply, which sent prices soaring. While that is the real reason for the rise in onion prices, there is a little more to it than that. Mint takes a look

Onion prices have shot up sharply due to estimated 25% fall in kharif production of 2019-20 State-owned MMTC, which is importing the key kitchen staple on behalf of the govt, has contracted 49,500 tonne of onion so far

Improved arrivals from mid-January may bring down prices by as much as 80% The govt sought to control prices by banning exports, restricting hoarding and increasing imports, yet the rally continued with shipments from overseas not due to arrive until 27 Dec

A new onion crop should help ease what has been a catastrophic year for the vegetable Soaring prices have been blamed for accelerating food inflation

India's farmers produce 50% more onions than we consume. Yet, prices shoot up in winter months, every couple of years. The reason is that onion trader cartels control supply. This means, even when farmers barely cover their costs, we pay through our noses. The only way to break this is to dismantle this system, give assured prices to farmers and to encourage them to form cooperatives to store and supply onions, just as Amul & Mother Dairy have successfully done for milk. Watch the full video for all the details.

Bank of America Securities said in a note that if onion price moderates to ₹60 a kg in January, inflation will be at 6.1% A February cut will be helpful as it will come with nearly two months of the busy season still to go, said the American brokerage

The rates were as high as ₹165 a kg in Panaji On Monday, the Centre further reduced the stock holding limit for onion to 2 tonnes from 5 tonnes for retail traders

This is to check hoarding, rising prices, the Consumer Affairs Ministry said Govt asked the state governments to undertake anti-hoarding operation with immediate effect on retail traders