Key Points
As demand for onions ahead of Eid-al-Adha (Bakra Eid) has increased, the prices of the commodity have risen by almost 30-50 percent in the last two week...
Now, hoping that the central government might soften its measures and interventions, largely for controlling rising prices, traders have started hoarding the onion stocks, according to an Economic Times report...
At a mandi in Nashik, the base wholesale price of one kg onions stood at Rs 26/kg on Monday..
"One of the main reasons for the prices to go up is that the farmers and stockists are optimistic that the central government may remove the export duty..
Onions continue to be in high demand domestically despite slow exports brought on by a 40% export levy, especially as Eid-al-Adha approaches on June 17...
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