Once in a year, as if keeping a date, onion price in India shoots up to unreasonable rate. When the news is read by other countries, they don't hide their sarcasm. Historians dig up old news of onion price inflation and consequent results in the political scene, world remarks and satirical cartoons.
Like every year, during this August, India's inflation rate hit a six-month high of 6.1% in August. The leader in the pack of course was the onion whose price shot up by 245%! Speaking in common man's language, it amounted to Rs.101 per KG. In the American newspapers it was printed as $1.57 per KG!
Here are some of the crazy things we've seen around India in the aftermath of soaring onion prices.
- Onion Groupon Deals: Groupon India offered onions at Rs. 9 for a kg, (a discount of nearly 85%) in response to surging onion prices, and the offer caused the site to crash. It was the first time Groupon India had a deal on onions.
- Onion Bank Deposits: To protest rising onion prices a member of the state legislature from the BJP deposited onions at a local bank, the New York Times reported, citing local media.
I am sure there were several more citations about the rising onion prices.
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