Business
Onion Prices Skyrocket in Karachi
President of the Wholesale Vegetable Association Sheikh Muhammad Shah Jahan identifies the Indian export ban on onions as the key factor behind this surge.
Karachi: The escalating onion prices in Karachi on Wednesday reached an alarming Rs240 per kg, compounding the challenges faced by consumers already burdened by inflation.
Seizing the opportunity created by the ban, Pakistani exporters capitalized on the situation, resulting in a sharp spike in local onion prices from the previous range of Rs120-140 to the current Rs160-180, fueled by increased buying activities.
President of the Wholesale Vegetable Association Sheikh Muhammad Shah Jahan identified the Indian export ban on onions as the key factor behind this surge, impacting not only local markets but also having ripple effects on the global onion trade.