NELLORE: The price of onion may increase further and hover around `70 per kilo. As it is, onion at present is selling at `50 per kilo, an increase of nearly 70 percent over the price it was selling at even two days ago. Consumers accuse that majority of the onion traders have been hoarding onions in huge amount to create an artificial scarcity.
Traditionally, the district imports onions from Maharashtra and also from Kurnool markets. Local produce is not sufficient to meet the demand of onions here. Retail traders procure onions from Maharashtra. With the recent rainfall in those regions, supply of onions has reduced when compared to the previous months. With this the price of onion has increased for the last three-four days. Onions were being sold for `40 per kg at shops for the last two days.
“We have reduced the usage of onions in our day-to-day cooking recently. We have purchased only little quantity of onion for specific dishes,” said N.Ramadevi, a resident of Ramesh Reddy Nagar. “Onions are not even available at Nellore Fathekhan Peta Rythu bazaar and in such a helpless situation we are purchasing onions from retail shops,” she said.
Few traders have reportedly been hoarding onions in huge amounts to create artificial scarcity. “Taking advantage of the gap between demand and supply of onions, some of the traders are trying to hoard stocks. Price of the onions will increase to `60 and to `70 as some of the merchants are hoarding stocks,” said K Ravi, a merchant. Now, consumers in the city are rushing to the retail shops to purchase onions as they are expecting an increase in price of onions to `70 per kg, another merchant said on condition of anonymity.