business ๐ง Onion prices are skyrocketing across India ๐ง
Onion prices are currently surging across India due to dwindling rabi stocks and delayed kharif arrivals. The national average retail price hit around Rs 42 per kg on August 22, up 45% year-over-year. In Delhi, prices reached Rs 65 per kg, while wholesale prices saw massive hikes. This sharp increase is compounded by weather damage and procurement costs rising nearly 108%. The government is now utilizing buffer stocks and running the 'Kanda Express' to manage the supply crunch.