Market glut brings down onion prices

Punjagutta: Wholesale onion price in the city has dropped to below Rs 10 per kilo while it was more than Rs 30 last year. Officials attribute the sudden drop in the price to rise to the glut in the market. Onions are being imported to the city from all districts of the state besides Karnataka, Andhra Pradesh and Maharashtra.

 The excess in the market and low demand kept the prices low.The cost of kilo onions in the retail market was Rs 40 to 50 till recently. Officials said that during the corresponding period last year, about 34 lorries of onions was transported to Malakpet market, whereas this time the number increased to 120.

City imports about 80 per cent of onions from Maharashtra. Mahbubnagar, Medak and other districts are also contributing more to the market, due to which there is a glut in the market. It has been reported that non-availability of godowns has become a problem for businessmen.