India News: Onion prices hit record high
- 5 years ago
Onion prices in India surged by a third on Monday to hit a record high on a supply squeeze due to last year's drought in key growing areas, and as this year's crop was damaged in some southern and northern states due to heavy rainfall.
The onion is a common ingredient in many Indian dishes. Soaring prices of the vegetable have helped dislodge state governments in the past, and rising food costs often spark street protests.
The average prices at Lasalgaon, India's largest wholesale onion market in Maharashtra, jumped nearly 37 percent to Rs 4,300 per 100 kg, breaking the earlier record of Rs 3,800 struck on December 20, 2010.
Retail prices have risen more sharply. In some metropolitan areas like Mumbai, the retail price was Rs 6,500 per 100 kg on Monday, compared with Rs 2,000 just two months ago.
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The onion is a common ingredient in many Indian dishes. Soaring prices of the vegetable have helped dislodge state governments in the past, and rising food costs often spark street protests.
The average prices at Lasalgaon, India's largest wholesale onion market in Maharashtra, jumped nearly 37 percent to Rs 4,300 per 100 kg, breaking the earlier record of Rs 3,800 struck on December 20, 2010.
Retail prices have risen more sharply. In some metropolitan areas like Mumbai, the retail price was Rs 6,500 per 100 kg on Monday, compared with Rs 2,000 just two months ago.
For More information on this news visit: http://www.itvnewsindia.com/
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