Garlic prices surge amid dwindling supplies: Double in six weeks

Consumers are feeling the pinch as garlic prices have skyrocketed, reaching an all-time high in the last six weeks. Surpassing ₹250/kg in retail markets across the nation, this steep surge has rattled household budgets. Wholesale rates are averaging between ₹130-140/kg, while premium quality garlic commands a steep ₹220-250/kg in wholesale mandis, reported Economic Times.

The escalation in prices during December is not unusual, attributed to dwindling stored stocks. "Every year, garlic prices rise during this period due to limited supplies," remarked Vilas Bhujbal, wholesale trader from Pune APMC to ET.

The current retail landscape witnesses a broad range of prices from ₹180-300/kg for varying garlic qualities across different markets. Wholesale prices oscillate between ₹150-260/kg, adding pressure on consumers already grappling with inflated costs.

Adding to farmers' woes is the recent ban on onion exports, intensifying unrest within the farming community. This abrupt halt in exports comes at a challenging time for farmers, grappling with the aftermath of droughts and untimely rainfall.

The government's decision to curtail onion exports from December 8 aimed to stabilize soaring prices caused by untimely rainfall in November. Previously, prices had surged above ₹45/kg in certain markets due to robust exports to neighbouring countries like Bangladesh and Nepal.

Consequently, the ban swiftly impacted onion prices, causing a sharp decline from ₹35/kg to ₹25/kg at the Lasalgaon market, with several other markets in Nashik following suit. However, other markets in Maharashtra stood resilient, with wholesale prices ranging between ₹25/kg to ₹45/kg on Sunday, reported ET.

With garlic prices hitting unprecedented highs and onion markets experiencing volatility, consumers brace themselves for continued fluctuations in essential kitchen staples.

Also Watch: India bans onion exports until March 2024 amid price surge