Onion prices have reduced, Chennai residents happy now
Posted on: 04/Jan/2020 10:02:43 AM
Last month, the residents of Chennai were worried about the increase in the onion prices. It is now said that the residents are shedding tears of joy due to the decrease in the onion prices.
In the month of December, onion grabbed many eyeballs as the prices in the Koyambedu wholesale market went more than Rs 150 per kg. The onion prices have dipped to Rs 50 per kg now and there could be a further reduction in the onion prices in the Pongal festival season. This was as per some onion traders.
It was later brought out by Mr S. Chandran, president, Market Management Committee Licensed Merchant�s Association and general secretary of Anaithu Sangankalin Kootamaippu, that onion prices at Koyambedu market had reduced and onions from AP were sold for Rs 45 to Rs 50 per kg. He added that onions from Maharashtra were sold for Rs 60. He concluded that the prices could come down in the coming days. A retail onion trader spoke about the decrease in the onion prices at Koyambedu market. He was hopeful that the prices of onions would dip further during Pongal festival.
The secretary of Koyambedu Vegetable Wholesale Merchants Association, Mr Abdul Khader, was of the opinion that the prices of onions were stabilizing and in the coming days, the prices could go below Rs 30 per kg also. The fresh harvest from states like Maharashtra, Karnataka and Andhra Pradesh has been responsible for the stabilising onion prices.
It must not be forgotten that the crops got damaged during the rains and the prices of onions escalated due to non-availability of onions in India. Some onion traders have imported onions from countries like Egypt, Turkey etc is known.
The traders are facing a huge issue now because they have to sell the onions (they have purchased from foreign nations) at the current rates. Traders who have bought onions at Rs 80 per kg from the foreign nations would have to sell at half the price. A retail onion trader mentioned about how social media has helped the traders to know about the onion prices across India.
