Reportedly ever since october this year, the teary-eyed onions have its price mushrooming in an unwavering manner. Previously on monday, the onions price has reached Rs 100 per kg in hyderabad city. Meanwhile just like how indian captain virat kohli scored a century against bangladesh two days ago and became the first indian to do so in a pink Ball Test, onions have been adamant too this year by reaching Rs 100/kg.
Furthermore the huge spike in the rate is literally leaving people teary-eyed. october has seen Rs.60 per kg, which gradually increased to Rs.80 in a few weeks. Further the selection grade secretary at the agricultural department, Venkatesham said that the poor yielding was the primary cause this year that showed a spike in the rates. Perhaps also, rains have wet the onions and storage was the issue, leading huge losses and he also added that though the larger and first-grade onions are Rs.100 per kg, the second grade is still available at Rs.60 per kg.
Moreover government and man-made factors affecting onions like retail price rise, in particular, may also be due to delayed arrival of onions in the market, delays may be due to natural causes or man-made caused by activities like hoarding, supply chain mismanagement and government actions plus also due to general inflation of fuel prices. Apparently the government controls the prices of onions through various measures like setting 'Minimum Export Price' (MEP) and including onions in the 'Essential Commodities Act' while reducing stock holding limits. Perhaps the use of onions for indians is completely inelastic and we cannot imagine substituting another vegetable.
