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17 February 2024

HomeLatest NewsOnion prices witness unprecedented surge

Onion prices witness unprecedented surge

Onion prices witness unprecedented surge

Onion prices witness unprecedented surge

ISLAMABAD: (Web Desk) The Pakistan Bureau of Statistics (PBS) recently revealed that onion prices have experienced an unprecedented surge, reaching a concerning Rs320 per kg.

The surge has been witnessed in the federal capital also affecting the neighboring cities, with Rawalpindi reporting prices as high as Rs310 per kg. Onion prices in various cities were witnessed as follows: Islamabad (Rs320/kg), Rawalpindi (Rs310/kg), Gujranwala (Rs240/kg), Sialkot (Rs270/kg), Lahore (Rs240/kg), Faisalabad (Rs220/kg), Karachi (Rs220/kg), Peshawar (Rs270/kg).

According to PBS data, the national average for onion prices is approximately Rs230 per kg. This surge in prices can be attributed to India’s ban on onion exports in early December, which has led to increased demand in Pakistan. Despite government efforts to control the surge, such as raising the minimum export price (MEP) from $750 to $1,200 per tonne, the local market continues to struggle with soaring onion prices.

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