Soaring vegetable prices pushed the retail inflation rate to a nine-month high of 5.49 pr cent in September, according to government data released on Monday. The consumer price index (CPI)-based retail inflation rate was 3.65 per cent in August and 5.02 per in September 2023. The previous high inflation rate was witnessed in December 2023 at 5.69 per cent.
A delicious Mangalorean dish that is served with steamed rice or neer dosas.
With 3,000 tonnes of imported onion entering the market over the next fortnight, the price should start cooling off. Soon after, the new crop of onions will arrive, further reducing prices.
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Rising onion prices make want to make you cry. Uttam Ghosh is determined to make you smile instead.
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At the benchmark Lasalgaon Agricultural Produce Market Committee (APMC) mandi, the model onion price shot up to Rs 21.50 a kg on Thursday, as against Rs 16.50 a kg on Wednesday. This was the highest since February 11.
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The Reserve Bank on Wednesday retained the retail inflation projection at 4.5 per cent for fiscal 2024-25, with Governor Shaktikanta Das stressing that the central bank will have to closely monitor the price situation and keep the "inflation horse" under tight leash lest it may bolt again. Unveiling the October bi-monthly monetary policy, the Governor also said the flexible inflation targeting (FIT) framework has completed 8 years since its introduction in 2016 and is a major structural reform of the 21st century in India.
The fear of price rise gained momentum after reports surfaced that the NAFED procured 50,000 tonnes of onion this season.
So far, Andhra Pradesh, Kerala, Telangana, Uttar Pradesh and West Bengal governments have taken the imported onions.
Last week, the Union Cabinet decided to import 1.2 lakh tonnes of onions to improve the domestic supply and control prices, which touched Rs 100 per kg earlier this month.
Assembly elections in Maharashtra are scheduled later this month. The farmer protests are likely to affect the results, especially in the onion-growing belt of Nashik.
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Uttam Ghosh offers his take on Finance Minister Nirmala Sitharaman's remarks on the rising prices of onions in the Lok Sabha.
Kumar was talking on employment issue when onions came flying at him at the rally in support of his party nominee Sudhanshu Shekhar at Gangaur village ground in Harlakhi assembly constituency, but it missed the target.
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Both red and yellow onions have been imported from Turkey, Egypt and Afghanistan. The shipments are landing at Mumbai port.
Because of the reluctance to intervene structurally in the political economy of onion trade, the BJP is paying the price till today and might continue to do so in the forthcoming election to the Delhi assembly.
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However, onion arrivals have been normal with farmers bringing in 1,400 tonnes of the bulb to Lasalgaon on Friday, substantially lower than 2,429 tonnes on Thursday, but there is no dearth of supply to mandis.
This classic Maharashtrian dish is made without onions.
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The model or average price for a kg of onion was Rs 6 on Monday -- the lowest in this late kharif and rabi harvesting season, so far. While poorer quality kharif onions traded at Rs 3 a kg, the price of export quality was Rs 9 a kg.
Withdrawing a blanket ban on overseas shipments of non-basmati white rice, the government on Saturday imposed a floor price of $490 per tonne and exempted the commodity from export duty. Exports of non-basmati white rice have been banned since July 20, 2023 to boost domestic supply. "The export policy for non-basmati white rice (semi-milled or wholly milled rice, whether or not polished or gazed) ...is amended from prohibited to free, subject to MEP (minimum export price) of $490 per tonne with immediate effect and until further orders," the directorate general of foreign trade (DGFT) said in a notification.
Kharge's remarks came after Modi on Friday said the Congress stands "badly exposed" in front of people for promising to them what the party knows it will never be able to deliver.
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The exchange came at a time when the finance minister was listing out the various measures adopted by the central government to stem rising onion prices in the country.
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Pawar urged people not to fall prey to the Opposition's "fake campaigns", highlighting government schemes for the youth, women, Warkaris (followers of Lord Vithoba) and others.
At Lasalgaon mandi, Asia's largest onion selling market, the onion price jumped Rs 1.50 a kg to Rs 32 a kg, the highest since January last year.
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