Indian Food Ministry to meet Oct. 25 to review onion prices; farmers hoarding onions so they can obtain good price, government sources say

NEW DELHI , October 22, 2013 () – The Food Ministry has called a meeting on October 25 to review the prices of onion. According to government sources, farmers were hoarding onion so that they can obtain a good price for the 'red bulb'. This Diwali, onion prices were certainly going to bring tears to consumers' eyes. The festival of lights was just two weeks away, but the prices of onions were showing no signs of coming down. Yesterday, onions were sold for Rs 90 with wholesalers claiming that the prices were unlikely to come down for another month. As demand usually far exceeds supply during the festive season, dealers said the price of onions was likely to cross the Rs 100-mark during Diwali. "Prices are likely to rise further in the coming days. Demand for onions has gone up manifold compared to last month. We are struggling to meet the demand because of the wedding season coming up. The supply is slow compared to the demand," said Anil Malhotra, member, Agricultural Produce Marketing Committee (APMC). While wholesale prices ranged between Rs 60 and Rs 70, the retail prices of onion across the city varied between Rs 82 and Rs 90. Consumers were now in a quandary as onion prices have adversely hit catering expenses and the overall cost of food, with people complaining that they now have to pay much more than before. UNI RL PA SD 1640 NNNN Published by HT Syndication with permission from United News of India. For any query with respect to this article or any other content requirement, please contact Editor at htsyndication@hindustantimes.com

(c) 2013 UNI

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