Onion price climb down
Parvinder Singh | 14 Jan 2011
In much awaited relief for the taste enhancer tuber, onion prices have dropped with the supply picking up.
In much awaited relief for the taste enhancer tuber, onion prices have dropped with the supply picking up. The prices hit the roof in the past month recording almost 300 percent increase.
This only made things worse for worse for families with inflation hiking the daily food bill.
Average onion prices at the country's largest wholesale market Lasalgaon, in the western state of Maharashtra, dropped 451 rupees to 2,400 rupees per 100 kg.
To send a message to retailer resorting to hoarding onions, to cash in on the scarcity, the Income Tax Department even resorted to raids. The bitter tuber even opened channels of duty free trade between the two arch-rivals, with Pakistan sending truckloads through the Wagha Border.
India last month allowed duty free imports of onion and banned exports to calm the price of the base ingredient for almost all Indian dishes. Onion is a staple and considered a politically sensitive commodity.
In a press statement Maharashtra, NAFED Chairman Bijendra Singh said today that the prices will come down to Rs 25 a kg in the national capital in the next 10-15 days.
"Prices of onion would come down to a comfortable level of Rs 25 a kg in the next 10 to 15 days," Singh said after flagging off 15 mobile vans which will sell onions at a subsidised rate of Rs 35 a kg in different parts of the state.
"If it does not happen you can question me," the NAFED chief told media persons.