Hyderabad: The price of onions has surge again due to depleting stocks from Maharashtra and Karnataka. Prices have touched Rs 50 per kilo in the retail market and onion traders see further price increase till the new crop arrives in December. City markets have seen huge fluctuations in onion prices for the past few months. Prices began increasing in May this year and touched a peak of '70 per kilo in August.
Suddenly, there was a steep fall in September, when onion prices hovered in the price band of Rs 5 to Rs 20 per kilo. The prices starting moving up in October, when they crossed Rs 30 per kg and escalated further to Rs 50 now. Supplies from the neighbouring states of AP, Maharashtra and Karnataka have fallen drastically. "The recent incessant rains in Telangana and neighbouring states have damaged the onion crop over a large extent. Due to this, there has been steep decline in onion stocks. The market, which used to receive over 20,000 bags on a single day, is not getting even half of the stocks now," said P Ravinder, a wholesale trader in the market. The new crop is expected in December, but till then the price of onions will only make consumers cry.
