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

Quick Summary:

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

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Article Type: News Report

Published On: 2024-11-08 @ 11:17:08 (2 weeks ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 508 words

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Sentences: 22 lines

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News ID: 23467791

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