Over the past one year, onion price has gone up by a whopping 287 per cent. The price has been steadily increasing for the past couple of months.
Though the Union Finance Minister has announced that the prices will come down within 15-20 days, market sources in the state are of the opinion that it will remain high for quite some time.
According to the latest data published by Department of Economics and Statistics of Kerala Government, onion price was Rs 58.93 per kg on September 12. Last year, it was Rs 15.23 per kg during the same period.
Though compared to last month, there is just a Rs 1 dip in the price, the retail price has touched Rs 70 a couple of days back in the state.
T J F Leo Paul, general secretary, Ernakulam Merchants’ Association, said it is unlikely that the price of onion will come down in the near future.
“Traders cite short supply as the major reason behind the spurt in prices.
In a span of one week, the price of onion has increased by Rs 12 per kg. This is a record in the recent times.
Since the Lok Sabha elections are approaching, manipulations might also be taking place in prices. Whatever be the reason, states like Kerala are the end losers,” he added.
The price of shallots, currently at Rs 65 per kg, also increased by 90 per cent over the past one year in the state.