Onion prices surge to Rs240 per kg

KARACHI: Onion prices in local markets are hitting the roof, reaching Rs240 per kg, as retailers point fingers at surging exports for the price surge.

The already burdened consumers are shelling out hefty amounts for this essential kitchen staple compared to other veggies.

Sheikh Muhammad Shah Jahan, the President of Wholesale Vegetable Association, shed light on the situation during a morning show, attributing the onion price hike to India’s ban on onion exports.

India, the world’s top onion exporter, imposed the ban from Dec 8, 2023, until March 2024 due to a domestic price spike following a production dip.

Taking advantage of the Indian ban, Pakistani exporters seized the opportunity, causing local rates to jump from Rs120-140 to Rs160-180, and the prices haven’t looked back since.

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Shah Jahan highlighted that many consumers, already grappling with inflation, are feeling the pinch of soaring onion prices.

He mentioned, “Consumers are limiting their purchases to less than one kg to manage daily expenses on other items.”

Despite the price surge, Shah Jahan dismissed the notion of an onion shortage in the country, emphasizing that Pakistan experienced abundant onion production this year.

He lamented, “Our country needs foreign exchange, but unfortunately, citizens are bearing the brunt of it.”