Onion prices hit two-year highs on reduced supply

Unseasonal rainfalls in October damage crop in Karnataka and Maharashtra, delay new season harvests

Steady decline in last year's inventory has seen onion prices hitting two-year highs in wholesale mandis across major producing regions in Maharashtra. The price increase spilled over from Maharashtra to other regions across the country, prompting consumers to stay away from regular onion consumption.

Data compiled by Nashik-based National Horticulture Research and Development Foundation (NHRDF) showed the price of the vegetable at Rs 28.64 a kg in Asia's largest spot onion selling mandi in Lasalgaon on Monday, down marginally from Rs 29.54 a kg on November 2. This wholesale price was up by Rs 8.44 a kg or 42 per cent