Onion spurts 50% to hit one-month high following export incentives

Price of export-quality bulbs touches Rs 10 per kg; farmers hold back sale of fresh onions, expecting prices to go up further

Onion prices jumped 50 per cent to hit a one-month high following the Centre’s decision to double export incentives and provide relief to farmers who were selling the bulb at a throwaway price.

The model price (average of high and low) of onion touched a four-week high of Rs 9.25 a kg on Monday in the benchmark Lasalgaon mandi, in Nashik district, Maharashtra. Lasalgaon is Asia’s largest onion selling market. What's more, old onions harvested in summer, which were earlier selling for just one rupee a kilo, were also quoted at Rs 5 a kilo.

The price of export-quality onion