Onion Price Surge: Relief for Growers Amid Rising Costs

Onion prices in India have surged, reaching Rs 1,600 per quintal after a decision by Bangladesh to allow imports from India. The price doubled from a previous range of Rs 800 to Rs 1,200 per quintal, as reported by the Maharashtra State Onion Producers Association.

Despite this increase, the current prices remain below the production cost of over Rs 2,200 per quintal, according to Bharat Dighole, president of the association. The import approval, valid from August 14 to December 13, is expected to bring relief to Indian onion farmers.

Farmers have been facing substantial financial losses due to an oversupply of the crop and rising production costs. Maharashtra's rabi season yields approximately 1.45 crore tonnes of onions, with Lasalgaon in Nashik setting the benchmark for the Asian market. Producers hope for a balance between domestic consumption and exports to secure profits.

(With inputs from agencies.)