Daily Times

Traders on Thursday linked the surge in onion prices to a ban on exports from neighboring India as the commodity was being sold at Rs 240 per kilograms into the local markets, leaving consumers grappling with economic fallout. Retailers are pointing fingers at the impact of massive exports on the escalating prices, with consumers already burdened by inflation now forced to pay hefty amounts for this essential commodity compared to other vegetables. President, Wholesale Vegetable Association, Sheikh Muhammad Shah Jahan has expressed concern for consumers impacted by the high prices, noting that many inflation-affected individuals are limiting their onion purchases to less than one kg to manage their daily expenses on other essential items. Talking to a private news channel, he said following India’s export restrictions, Pakistani exporters capitalized on the situation, leading to a sudden local price hike from Rs160-180, up from Rs120-140, driven by intense buying. Subsequently, the prices have continued to rise due to thriving exports. Contrary to claims of an onion shortage in the country, Shah Jahan highlighted abundant onion production this year. He emphasized the unfortunate situation where citizens are bearing the brunt of high prices while the country’s need for foreign exchange takes precedence.