Onion Price in 2020, What to Expect ?

Onion prices continue to remain high across metros in India with rates touching Rs 130 per kg in some places.In the past few weeks, the skyrocketing prices of onion have left the consumers teary-eyed. Its retail prices had reached Rs 200 per kilogram while the potato was selling for Rs 40 per kilogram in several parts of the country.The crunch in onion supply has sent prices soaring with many places seeing an increase.Poor supply has pushed wholesale onion prices to a four-year high.

• What's the story ?

A heavy monsoon that damaged crops has caused a sudden spike in onion prices.Among the top four metros - Delhi, Mumbai. Kolkata and Chennai - where consumption is high, onions were the most affordable in Chennai, at ₹80/kg, and the most expensive in Kolkata, at ₹120/kg. The situation is expected to improve in the upcoming days.Onion prices, after hitting the peak , have been showing declining trend since the last couple of days. While wholesale onion merchants expect prices to go up a little in the short term in view of the recent rain, as a whole, the prices are expected to come down and stabilize by the second week of January.The prices of onion will become normal within two months and people will not feel the pinch while buying it. The local onion is being sold for Rs 80-100 per kilogram while the onion exported from Egypt,Turkey is being sold at Rs 50-60 per kilogram.

• What's Next ?

As teary eyed onion loving Indians are putting a limit on their daily onion purchase,the prices are bound to go down during January when fresh stock from growers is expected to reach the markets, untimely rains might interfere with the expectations and make prices to go up again, some merchants caution the consumers.If the prices go down food loving Indians will definitely start this new year on a good note.Let us know in the comment section what do you feel about the Costly onions?