CHENNAI: Earlier last month, the onion prices in the city hit a record high leaving residents in tears. The price at the Koyambedu wholesale market had soared up and beyond the Rs 150 mark in December 2019. In a change of events, the prices of the precious commodity have dipped to Rs 50 and traders believe the prices could fall further during Pongal.
S Chandran, president, Market Management Committee Licensed Merchants Association and general secretary of Anaithu Sangankalin Kootamaipu, told Express that the onion prices in the Koyambedu market have dipped and onions from Andhra Pradesh are being sold between Rs 45 and Rs 50 per kilogram. “The onions from Maharashtra are being sold at Rs 60. The prices are expected to come down further in the coming days,” he said.
Bhaskar, a retail onion trader at Koyambedu said that onion prices have plummeted, and during Pongal, the retail price of onions would further dip below Rs 40.Concurring, Abdul Khader, secretary of Koyambedu Vegetable Wholesale Merchants Association said that onion prices are now stabilising and in the coming days one should not be surprised even if it sells below Rs 30 a kilogram.“The prices have stabilised because of the fresh harvest from Maharashtra, Karnataka and Andhra Pradesh,” explained Bhaskar.
During rains, the crops were damaged and as a result, the prices skyrocketed due to non-availability of onions across India. Interestingly, the government imported onions from Egypt and Turkey.
Chandran shared that traders who have brought foreign onions have burnt their fingers. “They have to sell the onions at the current prices. This means, the trader who might have brought the foreign onions for Rs 80 per kilogram will now have to sell it for half the price,” he said, adding that the traders in Koyambedu won’t be affected much as only five to seven trucks of onions were offloaded in the market.
Bhaskar said that the onions from these countries are not as good when compared with the local produce, as a result, these onions would have to be sold at a lesser price.
He added that traders are more aware of onion prices across the Indian market due to the presence of social media. “Most of the traders are part of WhatsApp groups and are aware of the prices of onions sold across India,” he said.
However, he said that prices of other vegetables are likely to go up during the two days of Pongal as there will be a huge demand. “We expect the prices of all vegetables to go up by Rs 5 or Rs 10. But after this, the prices will come down drastically,” he said.
Demand
During rains, the crops were damaged and as a result, the prices skyrocketed due to non-availability of onions across India. Interestingly, the government imported onions from Egypt and Turkey.