The government will continue its market intervention for another month to control the rising onion prices. They are selling onions at Rs 35 per kg right now. Prices should drop soon once the fresh crop hits the market.
Delhi: The government plans to continue its market intervention for onion prices for one more month. So far, they have released 81.8 tons of onions into the market. Officials announced they will place orders for another 30 tons soon. Right now, the government is selling onions at a subsidized rate of Rs 35 per kg. They believe this move has successfully kept the price hike in check.
Meanwhile, the high prices of onion and garlic are hitting consumers hard during the Ganesh Chaturthi festival season across the country. Traders say the delay in the new crop’s arrival is causing this price jump. Even though the new season’s onions have started coming in, the supply is just not enough to meet the demand. However, traders expect the prices to finally drop in the next 20 to 25 days when the full fresh stock arrives in the market.