Onion prices, which had shot up to Rs 85 per kg dropped to Rs 45 to R 50 per kg the previous week. However, now once again a steep rise in the onion prices is witnessed where the bulbs are sold at Rs 70 to Rs 75 per kg. Traders predict that the prices may spiral further.
In the wholesale market, a 50-kg low quality onion is sold at Rs 3,000 to Rs 3,500 whereas medium range onion is sold at Rs 3,200. When the onion reaches the retailer, the same sack of onion is sold at even more higher price due to the middlemen’s commisison, transportation charge, and other expenses, said Madhu, an onion trader at Yeshwanthapura APMC.
Perhaps due to the export ban and zero import duty on the tuber, last week ,the prices of high quality onions came down to Rs 2,000 to Rs 2,500 per 50 kg sack. But not for long.