Onion prices hit 5-year high, expected to drive November inflation higher

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Onion prices have increased by 21 per cent in four days, reaching a five-year high of Rs 60 per kg, while potato and cooking oil prices also remain elevated.

The Economic Times quoted Vikas Singh, vice-president of the Horticulture Producer Exporters’ Association saying the rain has impacted both the quality and timely arrival of the crop.

At Lasalgaon, India’s largest onion market, the price of older onions rose from Rs 47.70 per kg on November 4 to Rs 57.70 per kg on November 7.

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Category: BusinessFinance

Markets: India

Topics: RBI inflation data Food price hike Vegetable inflation Tomato prices Cooking oil prices Kharif crop Lasalgaon onion market Vegetable prices Potato prices Inflation November Crisil report Indian economy Onion shortage Food supply chain Onion price CPI October India inflation Onion price hike

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Article Type: News Report

Published On: 2024-11-08 @ 11:17:08 (10 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

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News ID: 23467791

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