KARACHI: As shopkeepers blame soaring exports for the price spike, local market onion prices are skyrocketing, reaching Rs240 per kg.
Compared to other vegetables, the already burdened consumers are spending a substantial amount on this necessary kitchen staple.
Read More: In the first half of FY24, Pakistan’s petroleum industry saw a 15% decline in sales
During a morning broadcast, Sheikh Muhammad Shah Jahan, the President of the Wholesale Vegetable Association, provided insight into the situation and linked the increase in onion prices to India’s export ban.
India, the leading exporter of onions worldwide, enforced the restriction from December 8, 2023, to March 2024 as a result of a surge in domestic prices that followed a decline in production.
Pakistani exporters took advantage of the prohibition in India, driving up local pricing from Rs120-140 to Rs160-180. Since then, prices haven’t decreased.
Shah Jahan emphasized that rising onion prices are pinching a lot of people who are already struggling with inflation.
“Consumers are managing daily expenses on other items by limiting their purchases to less than one kg,” he said.
Read More: Record Decrease in the Price of Pulses
Shah Jahan refuted the idea that there was an onion shortage in the nation despite the price increase, pointing out that Pakistan had an abundance of onion production this year.
“Unfortunately, citizens are bearing the brunt of foreign exchange needs that our country needs,” he said.
