NELLORE: Prices of onions are skyrocketing. Onions were previously sold at Rs 20 to Rs 25 a kg. The price has now shot up to Rs 60 a kg. Consumers state that the majority of the onion traders are hoarding stocks to create artificial scarcity in the market.
The local onion produce is not sufficient to meet the demand. Normally, the district imports onions from Maharashtra and Kurnool.
“Onions are being sold at Rs 60 a kg at retail shops for the last two days. We have reduced the use of onions in our day-to-day cooking unable to bear the exorbitant price of the vegetable,” said N Rama Devi, a resident of Ramesh Reddy Nagar.
As onions were not available at Fathekhan Peta Rythu Bazaar, people were forced to purchase onions at retail shops at a high price. “Taking advantage of the gap between demand and supply of onions, some traders are trying to hoard stocks. Prices of onions are likely to go up further to Rs 70,” said Sk Rafi, a trader.
Now, consumers in the city are rushing to retail shops to purchase onions as they are expecting a further rise in the price of vegetable.
Due to heavy rainfall in Kurnool district, imports of onions have decreased, compared to last month.
The current rise in onion prices is a result of last year’s drought and a delayed monsoon this year. The situation is compounded by excessive rainfall in onion-growing areas, which has delayed the harvesting period, said another trader.