Hyderabad: Onion prices in Hyderabad have once again doubled, impacting household budgets. This time, prices have doubled in just one week.
The prices, which were in the range of Rs 40-45 a week ago, have now jumped to Rs 80-90 per kg in Hyderabad. Last month, prices were at Rs 20-25 per kg.
The reason behind the skyrocketing onion prices in Hyderabad is a supply-demand mismatch. Delayed monsoon rains are being cited as the reason for the low supply.
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A few months ago, Hyderabad experienced a surge in tomato prices. In July, tomato prices reached Rs. 200 per kg due to heavy rainfall in Telangana. However, they decreased after a few weeks due to a drastic drop in sales volumes.
At that time, people in Hyderabad were not buying tomatoes and were instead focusing on other vegetables.
As the prices of onions are expected to cool down only after November, it remains to be seen how people will respond to the rise in rates in Hyderabad.