Hyderabad: There is no respite for the people of Hyderabad as onion prices continue to rise in the city, tripling in just a month.
Currently, onion prices in the city range between Rs 80 and 90 per kg in the retail market. A few weeks ago, the prices were at Rs 20-25 per kg. Many traders forecast that the prices will reach Rs 100 per kg.
One of the reasons for the rise in onion prices in Hyderabad is the farmers’ decision to shift to alternative crops after heavy rainfall a few years ago. This shift led to a significant drop in the supply of onions in the market.
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As Hyderabad depends on the supply of onions from Maharashtra, the delay in the arrival of onions from the state has also resulted in a supply-demand mismatch thereby a rise in prices.
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.
It remains to be seen how people will respond to the rising prices of onion in Hyderabad.