NE NEWS SERVICE
CHENNAI, JAN 4
Soaring prices of onion which brought tears from the eyes of the people during the past few months will have a sigh of relief in the coming days, say traders in Koyambedu market here.
The onion prices in the city hit a record high and even went beyond Rs. 150-mark during December, and were hovered around Rs. 100 to Rs. 120 for the past fortnight, may fall below Rs. 40 during Pongal festival, a trader said.
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, said S Chandran, President, Market Management Committee, Licensed Merchants Association and General Secretary of Anaithu Sangankalin Kootamaippu.
He said that the onion brought from Andhra Pradesh is being sold between Rs. 45 and Rs. 50 per kg and it was Rs. 60 for onion from Maharashtra on Saturday.
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,” said 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, who bought them, had burnt their fingers, as they were forced to sell at half price of their purchase.
Traders expressed that the demand for vegetables may go up during the festival, hence, the prices will go up between Rs. 5 and Rs. 10 per kg, and afterwards it will come down drastically.
