After breaching the ₹100 per kg mark, the price of onions in Bengaluru has come down to ₹30-40 per kg in the wholesale market in the backyard of Agricultural Produce and Livestock Market Committee (APMC) in Yeshwantpur while the price is fluctuating at ₹60 - 80 per kg in retail markets. With new stock from other States coming into the market, the supply crunch has been adjusted, traders reported.
B. Ravi Shankar, an onion merchant in APMC and the secretary of Onion Merchants’ Association of Bengaluru, said, “The new onions are available in plenty. So, prices have decreased right now.” In places with good irrigation facilities, the yield has increased by 20-30%. Some traders said that the wholesale prices of onions have decreased from ₹2,500 for 50kg to ₹1,700.
In Maharashtra, Rajasthan, Madhya Pradesh and Gujarat, mass production of onions is expected to happen around December, resulting in some price control in markets across India.
As production picks up in Maharashtra, prices will come down there and even in Karnataka, according to Mr Ravi. Prices are expected to further decrease to ₹10-20 per kg in a couple of months.
In the bustling K.R. Market in Bengaluru, traders have priced three kilos of onion at ₹100, or two kilos at ₹50, depending on the size and quality. One of the traders said that supply has been ample in the last few weeks. However, in retail and online markets, prices are in the range of ₹60 to ₹80 per kg.
While supermarkets continued to report sales despite the price hike, small-scale vendors reported a drop in the number of customers in the last two months.
“People weren’t coming when we hiked the prices, but we had no choice. My family was struggling till October. But now that the price has come down, our business is slowly picking up,” said Sri Murugan, a vegetable cart vendor in Kadubeesanahalli.
Eateries are struggling with the fluctuation in prices. Raj Gopal, who runs a chaat shop near M.G. Road, said, “Most of my customers demand onions in their chaats, but the price is above ₹50, which I can’t afford.” He is hoping for the prices of onions to come down in December.
