Onion Price Outlook: Vegetable prices go down in the country during winter and this usually happens every year. This year, half of the month of November has passed and the pink winter is showing its colors. In such a situation, if we talk about the prices of vegetables, they have started softening and the prices of some seasonal vegetables have also started decreasing. If we look at the prices of onion among the vegetables used daily in homes, it is still at a high level and due to this, its impact is still visible on the pockets of common people.
ICICI Bank report scared people
According to ICICI Bank report, onion prices will not reduce in the remaining days of this November. It is a matter of relief that on month-on-month basis, there may be a decline of 4.1 percent in the prices of other vegetables in November. In the latest monthly report of the bank, it is written that the core inflation rate in October was 6.21 percent, which is the highest level in 14 months. In September it was at 5.49 percent.
What is the estimate about onion, a vegetable used daily in homes?
In September, continuous upward pressure was seen in the prices of edible oil and vegetables and the effect of less arrival of vegetables in the markets was seen in the increase in their prices. It is worth noting that now that the prices of tomatoes are coming down, the pressure on onion prices will increase which is likely to continue till the month of November.
Arrival of vegetables increases in winter
The arrival of vegetables increases in winter and the same trend is seen in the market also. At present, the prices of vegetables like spinach, cabbage, fenugreek, bathua are in the initial stage, hence they are looking a bit high, but this week they are expected to come down because the supply is high and the demand is also high. A large number of vegetables are expected to be sold. However, onions are expected to remain expensive as new supplies will take time to arrive.
