Bengaluru

Onion price breaches ₹150/kg-mark

While HOPCOMS was selling onions at ₹142 a kg on Friday, it is expected to shoot up to ₹160 to ₹165 on Saturday.

While HOPCOMS was selling onions at ₹142 a kg on Friday, it is expected to shoot up to ₹160 to ₹165 on Saturday.  

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‘There is severe shortage even at that rate, as there is hardly any supply in the market’

The price of onions seems to be only going north with no respite in sight. Just a week after the price breached the ₹100-mark, it crossed ₹150 a kg on Friday in the wholesale markets of the State, setting an all-time record yet again.

“There is severe shortage of onions even at that rate, as there is hardly any supply in the market,” said Ravi Kumar of the Bangalore Onion and Potato Merchants’ Association.

“The retail price is expected to shoot up to ₹170 to ₹180 a kg in the next two days and may even cross the ₹200 mark shortly,” said a senior procurement official of a retail chain in the city.

While HOPCOMS was selling onions at ₹142 a kg on Friday, it is expected to shoot up to ₹160 to ₹165 on Saturday.

However, lower quality onions — smaller in size, wet or those that decompose fast — are available for below ₹100 a kg as well. Most of the retail stores have decided not to stock up high quality onions and are opting to only stock medium or low quality onions. “People have mostly stopped buying onions or are rationing it. Even those buying small quantities are not ready to pay over ₹150 for a kg for good quality. Stocking them has led to losses as they are perishable,” a retail firm procurement official said.

The scenario is expected to continue for another two to three weeks and may see further inflation. New crop from the State, expected by December-end, is now hoped to bring some respite. While the Union government has opted for importing onions from Egypt and Turkey to stabilise the price, the State is keen on harvesting local crop expected in another two weeks. Of the first consignment of 6,600 tonnes of onions from Egypt, the State government only placed an order for 250 tonnes on Friday.

Good output

“Karnataka is a major producer of onions in the kharif season. Even though it has taken a hit this year due to heavy rains, it is still expected to be good. Compared to the output of 26 lakh tonnes last year, it is expected to be 20.11 lakh tonnes this year. Of this, the Horticulture Department estimates that around 4 lakh tonnes will arrive in the markets by December third week and another one lakh tonne by early January. This is expected to stabilise the price in the State. Importing onions will adversely impact farmers from the State,” said V. Manjula, Additional Chief Secretary overseeing response to onion prices from the State government.

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Printable version | Jan 21, 2020 12:09:35 PM | https://www.thehindu.com/news/cities/bangalore/onion-price-breaches-150kg-mark/article30223043.ece

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