Onion price skyrocketed in Pakistan
Pakistan News: Trade relations between India and Pakistan are closed. This is having a very bad impact on Pakistan. Especially in Pakistan, onion prices have skyrocketed. These onion prices have forced the people of Pakistan to cry onion tears. These prices of onion are increasing because India has banned its export. Wholesale traders of Pakistan are taking advantage of this.
On December 8, 2023, India had announced a ban on selling onions to Pakistan till March 2024. After this, onion started becoming inaccessible to common Pakistanis. Because the wholesale traders of onion bought heavily and hoarded it. Due to this, onion prices in Pakistan immediately increased from Rs 120 to Rs 140 per kg to Rs 160 to Rs 180 per kg. Since then onion prices have continued to rise in Pakistan.
Why did onion prices increase in Pakistan?
Consumers, already facing the brunt of inflation due to rising onion prices, now have to pay a higher price for the most sought-after commodity compared to other vegetables. Especially in Pakistan, there has been a huge decline in onion production. Due to this, local onion prices have more than doubled in the last three months. Meanwhile, India has also banned the export of onion.
Pakistan wants to buy cheap onion from India
Pakistan is trying its best to ensure that India lifts the ban on onion export as soon as possible. Pakistan is hopeful that due to the falling prices of onion in the Indian market, the ban on its export will soon be lifted. In such a situation, Pakistani exporters are trying their best to take advantage of this opportunity.
Onion prices may increase further in Pakistan
Speaking to Pakistani newspaper ‘Dawn’, Haji Shahjahan, president of Falahi Anjuman Wholesale Vegetable Market Super Highway, said that the wholesale rates of medium quality onion are Rs 7,000 per 40 kg, while the price of high quality is more than Rs 8,000 per 40 kg. . He claimed exporters were buying the high-quality product due to its size and demand in Arab countries and Dubai.
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