In a development concerning essential commodities, onion prices have seen a noticeable rise, overshadowing the recent dip in tomato prices. Reports indicate that the cost of onions has surged in various markets, with prices hitting Rs. 55 per kilogram in the KR Market and reaching up to Rs. 60 in other areas.
The sudden spike in onion prices has been attributed to a shortfall in supply exacerbated by crop damage caused by early monsoon showers in the state. Sources suggest that the local godowns are grappling with diminished stocks, prompting authorities to initiate imports from Nashik to meet the escalating demand.
There is not enough onion coming to meet the demand, so there is a possibility that the onion price will cross the 100 mark in the coming days,” explained a market insider familiar with the situation.
The escalating prices have sparked concern among consumers, particularly those from lower-income backgrounds. “Life is difficult,” lamented Vanitha, a customer who expressed anxiety over the rising vegetable prices.
Amidst these developments, traders are noting a trend of consumers stockpiling onions in anticipation of further price hikes. “Due to the possibility of price increase in the coming days, people are stocking onions,” shared businessman Mubarak.
