Karnataka: Onion prices likely to surge over Rs 100 soon as wholesale rates spike

By Vinaykumar Patil | First Published Nov 8, 2024, 10:33 AM IST

Onion prices in Karnataka have surged, with wholesale rates climbing due to crop damage from recent heavy rains. Retail prices may reach Rs 100 per kg, while other vegetables, impacted by rain and high demand during Diwali, have also seen significant price hikes.

In a concerning development for households, the wholesale price of onions has been on a steady rise in the Yeshwantpur Agricultural Produce Market over the past two days. If this trend continues, retail onion prices in Bengaluru could hit Rs 100 per kilogram soon. As of Thursday, high-quality onions were priced at Rs 70-80 per kilogram in the city’s retail market, while lower-quality varieties were available at around Rs 40 per kilogram, though these were of significantly poorer quality.

Traders warn that the price of onions could continue climbing in the next two weeks. The Agricultural Produce Market Committee (APMC) received 100,480 bags of onions, with 8-10 lorries of good-quality, old-stock onions arriving from Maharashtra. These higher-grade onions are priced between Rs 7,200 and Rs 7,500 per quintal, while lower-quality local onions are available at rates between Rs 1,500 and Rs 5,500 per quintal.

Karnataka: Onion prices surge, reach Rs 80 mark

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Due to heavy rainfall across Karnataka in late October, a substantial portion of the local onion crop was destroyed, leaving it with a very short shelf life before spoiling. As a result, onions sourced within the state have lower prices. Currently, onions are arriving in Bengaluru markets from Chitradurga, Bagalkote, Gadag, Koppal, and other North Karnataka regions, according to B. Ravishankar, a trader from Yeshwantpur APMC.

Vegetable prices also skyrocket

Garlic prices reach Rs 400 in Karnataka within 15 days

The spike in onion prices reflects a broader trend of rising vegetable prices. Week by week, stocks of vegetables have been dwindling, leading to significant price increases in local markets. In regions like Uttara Kannada, the vegetable crop this season has been notably low, with some areas only cultivating once a year. Consequently, vegetables are being sourced from other districts, including Belgaum, Haveri, Dharwad, and Gadag.

Ongoing rains have further impacted vegetable availability, with crops suffering from rot and damage, leading to a scarcity that’s driving up prices. With the demand for vegetables high during the Diwali season and yields low, customers are expressing shock over the costs. Common vegetables like nuts, which previously sold for Rs 30-40 per kilogram, are now priced at Rs 80 per kilogram, marking a doubling in price compared to last month. Lemons have also seen a price surge, with a single lemon now costing Rs 5, due to low growth and a decrease in the number of lemon growers.

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