Onion price shoots to a peak - Rs. 120 per kg!
Posted on: 26/Nov/2019 11:50:00 AM
As the public aware the growth/yield of onion in the neighbouring states of Andhra, Maharashtra, and Karnataka was severely affected due to incessant rain in all the 3 states. As such, growth being less, the quantity of onion arriving by truckloads to the Chennai Metro Koyambedu wholesale vegetable market had reduced by more than 50%. Subsequently, onion price has been shooting up gradually - Big onions are currently sold at Rs. 100 per kg and the small ones at Rs. 160 per kg!
It may be noted that the reduction in the quantity of onions truckloads started from the month of September.
Usually, 90 to 100 truckloads of onions were transported to Koyambedu daily. However, presently, only 50 to 60 truckloads arrive daily. Further, 70% of the onions arrive in rotten condition.
Due to above reasons, the price of onion which was sold at Rs. 40 per kg only a few weeks ago, has shot up substantially! The wholesale price is Rs. 100 per kg and the retail, Rs. 120 per kg!
The quantity of small onions arrival has also reduced considerably. Usually, 5-7 truckloads of small onions arrived daily. Presently, only 500 to 600 bags of 50 kg each only arrive at the wholesale market!
So, small onion which sold at Rs. 90 per kg, is now sold at a wholesale price of Rs. 160 per kg and retail price at Rs. 180 to Rs. 190 per kg!
The traders observed in this regard:
‘The central government had announced about importing onions. However, no quantity has been imported so far! If the situation persists, the onion price may shoot up to unmanageable proportions - up to Rs. 150 per kg. If the onion is imported, there are prospects of the price coming down. Also, small onions are being hoarded! So, its price has also shot up phenomenally!’
