Festive Season Price Pinch: Onion Prices Reach Rs 65/Kg, Sugar Surges As Govt Releases Buffer Stocks

Description

Just ahead of the festive season, households face a fresh price pinch as onion retail prices jump from 35 rupees to 60-65 rupees a kilo in several markets, while sugar prices climb sharply to nearly 65 rupees a kilo. Lower supplies, a delayed kharif crop, and weather damage to the late rabi crop in Maharashtra are driving the onion price spike. The opposition has targeted the central government over rising essential commodity costs, low sugar stocks, and ethanol diversion. In response, the government has rejected the ethanol link, citing reduced global agricultural production, and released onion buffer stocks via the 'Kanda Express' to sell onions at 35 rupees per kilo through government outlets.