Government strategy works, onion prices may decrease

Bengaluru: The government’s strategy to reduce skyrocketed onion prices has finally paid off. As a result of the government’s efforts, the price of onion in the wholesale market has come down from Rs 55 to Rs 50. However, the price in retail shops has not come down yet.

Retail shops are selling 5 kg onion at Rs 390- Rs 400, expecting the price hike to increase further. Farmers in Karnataka and Maharashtra were expecting an increase in the price due to availability of onion crop. A few days ago, the news that onion was sold at Rs 100 per kg in Vijayapur brought happiness to these farmers.

A wholesaler of APMC in Bengaluru, Ravi said that after hearing the news that the price of onion will cross Rs 100 per kg, the growers had withdrawn from delivering onions to the markets. The government intervened and brought down the price. Onion price in retail shops will soon come down to Rs 25. Now the worried farmers have said that they are supplying the onions to the market again. Farmer leader Kuruburu Shanthakumar said that since there are elections in five states, the government is following the ‘price break’ policy. “We don’t say they are wrong, but work should be done keeping the vulnerable farmer in mind. Shouldn’t there be a minimum price guarantee for crops whose prices are so low? Considering the shortage of onions, the farmer has lost the opportunity to make money, he said.

If the price does not rise in the next few days, the price will remain stable for the next four weeks. Experts said that elections will not be the main factor this time.