Onion may remain missing from the common man's plate for the next few months. Its prices are already very high and now there is no hope of them coming down soon. A shocking revelation has been made in a report regarding this. The prices of not only onion but also other vegetables like tomato, cabbage, bottle gourd etc. are continuously increasing in the country.
According to a report by ICICI Bank, the price of onion in Lasalgaon, the country's largest onion market, has reached a five-year high. Its price has reached above Rs 5500 per quintal. These are wholesale market rates, so there is little hope of onions becoming cheaper in the retail market any time soon.
Onion price has reached Rs 5,656 per quintal in Lasalgaon on 6th of this month. In this way, onion prices have also broken the record of 2019, because onion prices had reached this level only on December 10, 2019. Even now the price of onion in the wholesale market remains around Rs 4,000 per quintal.
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ICICI Bank's report states that although the prices of vegetables have decreased in November compared to previous months, the prices of onion remain high. Heavy rains in August and September led to a 28 per cent decline in vegetable arrivals, pushing up tomato prices by 49 per cent last month; At the same time, onion prices are still high.
In October this year, vegetable prices have seen an increase of 42 percent on an annual basis. This is a 57-month high in vegetable prices.
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