Hyderabad: Homemakers cheer drop in onion prices

Hyderabad: Finally, the onion consumers can breathe easy as the inflated prices are on the decline in the city. Right now, the prices are hovering in the range of Rs 40-50 in wholesale and retail markets respectively, falling considerably from the earlier price of Rs 100 to Rs 200.

In the last two months, the price of the onions was at the rooftop. According to officials, the main reason for the inflation in onion prices was the reduced supply of onions from the states of Maharashtra and Karnataka due to recent floods and heavy rains out there. The drastic fall in onion prices which began this week has steadied at Rs 40 per kg in wholesale markets.

Onions are transported from Maharashtra, Andhra Pradesh and Karnataka to the Malakpet market. "Due to heavy rainfall we were receiving less quantity. Now as everything has come to normal, daily around 50 to 60 trucks are reaching Hyderabad from the three states. While in Malakpet market , grade 1 onions from Maharashtra are priced at Rs 3,200 per quintal and last week the same was at Rs 5,000 per quintal and grade 2 onions from Kurnool are being sold at Rs 2,000 per quintal," said Ravinder Reddy (grade 3) secretary, Malakpet Market.

"The onion prices have come down drastically as the yield has increased and the markets are receiving the onions in good quantity. We are expecting onion prices to drop down further. Maybe by the beginning of the new year the consumer can receive onions at a reasonable price," said TN Srinivas, the chairman of Bowenpally Vegetable Market.