The prices of onion in India have been among the biggest issues in the country in recent times. On October 23, 2013 onion prices have been reduced to Rs. 10 Indian rupee per kg in the city of Bhopal in Madhya Pradesh, India. However, despite the significant price decrease, the quality of this vegetable was not as good as it was expected previously.
While talking to reporters, wholesalers said that prices crashed because of the unexpected arrival of new stock from the state of Maharashtra. In the past two days, the prices reached a whopping Rs. 100 to 110 Indian rupees per kg in all the town's markets, which is poll-bound on November 25, 2013.
One of the wholesale dealers in the city said, “As many as fifteen trucks arrived today with stocks of onion from Maharashtra as a results prices crashed to as low as Rs 5-10 per kg at wholesale prices, we have lost Rs 20 per kg today”. The retailer went on to say that he sold 40 kg of onion at Rs. 15 to 20 Indian rupee per kg. The prices are expected to go down further by Rs. 5 to Rs. 10 Indian rupee per kg.
The prices of A grade onions are expected to be slashed, but it will result in huge losses for retailers.
Photo Credits: Reuters
