KATHMANDU, Feb 25: Onion price that had remained stable for the past two months has started to rise again in the domestic market amid soaring price of the agricultural product in India, the main import source country for Nepal.
According to the Kalimati Fruits and Vegetables Market Development Board, the wholesale price of onion is Rs 85 per kg on Wednesday. In the retail market, the price has crossed Rs 100 per kg, said traders.
Binay Shrestha, spokesperson of the board, said the price has increased by Rs 10 to Rs 15 per kg in the past few days after the price hike in India. According to Shrestha, Kalimati market is currently receiving an average of 100 tons of onions per day.
Indian media has also reported that onion price in Indian market has gone up to IRs 60 per kg, almost double in the past few days. The price hike has been attributed to an increased demand for Indian onions from various countries including Nepal after India lifted a ban on export of its onion.
Nepal receives more than 90 percent of its demanded onion from the southern neighbor. The government record shows that between mid-January and mid-February, Nepal imported 2,349 tons of onions out of which around 2,325 tons were imported from India.
In the Nepali market, onion price jumped to a record high of Rs 230 per kg in November. Although the price started to fall since January, it still remained as high as Rs 90 per kg until last week.