Economy News

Onion Price is going down in Indian Market – Why?

There is always a lookout for the prices of onion whether they are higher or lower.

Normally the prices fell by Rs.10 per kg in the main states like Mumbai, Delhi and  Chennai.

This happened because the government made stocks limited for traders to check the prices.

There was a declining trend over the prices of onions almost everywhere because of the government limited the stocks.

Lasalgoan which is in Maharashtra which is also Asia’s largest onion market also saw a decrease of Rs.5 per kg after the decision and all this happened within the time span on 1 day.

Let’s see the prices in other states:

Chennai: the prices declined to Rs 66 per kg from Rs 73 per kg.

The rates in Bangalore, Mumbai and Delhi also fell by almost Rs 5-6 per kg.

There were improvements in the daily supply of onions because of this.

The government is also focused on changing some more things with time.

The exports are banned so that domestic supply could be more.

Also because of the heavy rainfall, all the onions are affected in a very bad way in key areas like Mumbai, Delhi, Andhra Pradesh which damaged the Kharif crop which will hit the market next month.

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