With big onions imported from Egypt by private traders reaching several markets in the country on Wednesday, this was reflected in the local wholesale price.
In Coimbatore markets, big onion that was sold at ₹90 a kg (wholesale) on Tuesday dropped to ₹ 80 a kg by Wednesday evening. The prices may decline to ₹70 a kg on Thursday. However, the real impact on domestic prices will be known in a week, depending on the consumer off-take of the imported onion, say traders.
A wholesale trader from the city said traders were less likely to hoard onion now as the varieties that currently come to markets could not be stocked for many days.
“The damage is high for the onion varieties that are currently sold in the market. Rains in onion producing States and COVID-19 induced crisis leading to less cultivation are said to be the reasons for the price hike,” said the trader.
Members of the All India Democratic Women's Association in Coimbatore staged a protest on Wednesday, demanding that the Central and State governments bring down the prices.
They took out a march holding a hardboard stuffed with onions, to make it resemble a portrait, and they also placed wreaths before it.
