When one enters the grocery store they expect to see some items overpriced. Meat, for instance, is expected to be over ten dollars and some produce such as squash and avocados are excused for being irregularly high because they are considered as special vegetables that are scarce in quantity but good in quality. The common produce known as the onion, however, is not considered to be a luxury and is hence sold at regular price; until now. The TruthDive news sector reports that onions have reached a record high in inflation, going from single digit pricing to double in a short time span. According to TruthDive, the primary reason behind high onion prices is damaged crop due to rain. Apparently the large amount of rain that fell in countries responsible for the production of onions has ruined a substantial amount of crop and has caused the vegetable to move from necessity to luxury. With fewer onions available for packaging and shipment, farmers are forced to charge more for their crop, which inevitably forces local grocery stores to increase prices to a ridiculous rate. In the past year alone, onions have inflated by 33.48%, which is a weekly increase of 4.56%.
So what does this mean for the consumer and economy? For the local consumer expecting to pay one or two dollars for that large onion, expect to pay anywhere from $1.50 to $2.25. Troubled economies such as the United States should expect to see a decrease in onion purchases, and grocery store chains in these regions should not purchase as many onions for shipment. While it is usually better to have more products than less, in this instance it’s better to have less since an influx could lead to rotten onions that no one will buy. Until the onion rise is over, everyone should beware and be aware of extremely high onion prices.