Onion prices are unlikely to correct at least for another week or two, or longer, if government fails to intervene and improve supply. In the past week, the retail rate for onion has increased by 75 per cent—from Rs 40 per kg to Rs 70 per kg. It’s not just onion; prices of quite a few vegetables are fluctuating due to various factors like the festive season, lower intensity of rain and exports.

Onion trade sources said the essential commodity’s price will remain high for a few more weeks till the government releases more stock. Failing that, the price surge could continue until fresh crops arrive in early to mid-November.