Garlic has become the latest victim of price inflation in basic commodities, witnessing a nearly doubling of prices over the past few days. The escalating rates, now reaching Rs 400 per kg in some areas, are attributed to dwindling supplies.
Garlic, a staple spice in Indian households, has experienced a rapid surge in prices, currently ranging from Rs 300 to Rs 400 per kg at retail markets. Analysts predict that these elevated prices are likely to persist until the end of the year.
Wholesale prices of garlic have also witnessed a significant upward trajectory, with reports indicating rates of Rs 130-140 per kg in wholesale markets. High-quality garlic is fetching even higher prices at Rs 220-250 per kg in the wholesale market.
Following the pattern of onions, garlic prices have doubled within a week, primarily due to a scarcity of supply across the country. Unseasonal rainfall triggered by Cyclone Michaung adversely affected garlic crops, resulting in substantial damage. This weather-induced calamity has led to a severe shortage of garlic in the market, prompting the sharp spike in prices.
The prevailing expectation is that prices will continue to rise nationwide until the new yield enters the market, which is anticipated by the end of the month. Traditionally, garlic prices tend to escalate during the winter season due to reduced yield and supply.
This surge in garlic prices comes on the heels of an earlier shortage in the supply of onions, contributing to high prices and low availability in wholesale markets. Despite multiple interventions by the central government to stabilise onion prices, rates have remained steady at Rs 300-400 in retail and around Rs 200 in wholesale.
The sudden and unexpected surge in prices of essential fruits and vegetables, including garlic, is largely attributed to extreme and unforeseen weather conditions in various parts of India, adversely affecting crop yields. Consumers and traders alike are grappling with the economic ramifications of these volatile market conditions.
