Home STATE CITY Short supply pushes onion prices upwards in Odisha

Short supply pushes onion prices upwards in Odisha

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Odisha Sun Times Bureau
Bhubaneswar, June 1:

The soaring price of onions is again back to burn holes in consumers’ pockets as it has gone up manifold within a week in the Odisha capital due to short supply of the essential commodity.

onion market

Supply from domestic market has declined leading to a steep rise in onion prices. The kitchen essential, which was being sold at Rs 16/17 per kilo gram, is now being sold at Rs 24.

An inferior variety of onion that perishes in a day or two is being sold at up to Rs 16. In contrast, the price of good quality onion imported from Nasik, which can be stored up to a week, is being sold at Rs 24 per kilo gram.

Notably, the essential ingredient in the Odia cuisine was being sourced mainly from Kantabanjhi, Bolangir and some truck-loads were also imported from Nasik, Maharashtra.

As per wholesalers at the Aiginia commodity market on the outskirts of the city, onions supplies from Kantabanjhi, which was earlier regulating the domestic pricing, has dropped significantly. As the stocks with the farmers in Bolangir district have dried up, the traders are depending on the supply from Nasik.

Kantabanjhi was making up for the bulk of the onion requirement in the state as a result of which the traders were procuring less quantity from Nasik. With the fall in supply from within the state, the pressure on the Nasik market has increased owing to which the prices have shot up in a short span. The price of the bulb will stabilise in a week’s time, the traders said.

Till the demand-supply gap is minimised, the prices of onion will keep fluctuating. The prices will be stable and will be around Rs 20 a kilo gram after the market conditions stabilise, they said.

“At a time when the demand is high and the traders are not able to meet the requirements, the price of the kitchen essential is going to soar high. The traders are going to take the advantage of it and exploit the consumers. So the government needs to put an eye on the wholesalers and the retailers against hoarding and black-marketing,” a city denizen said.

It is alleged that the retailers are selling onion at high prices on the plea that the vegetable is perishing due to intense heat in the state. They are incurring huge losses due to this which is having its impact on the market.