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Traders blame shortage in supply for rise in onion prices
Traders blame shortage in supply for rise in onion prices
Wednesday, August 22, 2007 | AY
New Delhi/ Mumbai, Aug 21 (ANI): Traders on Tuesday blamed the rise in onion prices on the shortage of supply caused due to crop damage in floods and corporate retail buyers.Onion traders in Delhi's wholesale market say the prices of onions are rising because the pre-monsoon stocks are getting exhausted, and fresh stocks are in short supply."It is being said that it is the result of crop damage due to floods in Rajasthan and other areas. Also corporate retailers like Reliance and Subhiksha are affecting the market," said Kamal Dev, an onion wholesale trader."It has affected our business badly. Where earlier five trucks of onions use to come, only one is coming. Earlier hundred trucks of onions used to come to Azadpur (wholesale vegetable market) but this time only fifty trucks have come," Dev added.The average cost of onion has shot up to more than 24 dollars per quintal across the country from average 21 dollars.In Delhi people are forced to pay around 22 rupees per kilogram, up from the average 10 rupees.The wholesale dealers expect the price to shoot up further in next few days. They say people may have to shed 30 to 40 rupees per kilogram of onion in the coming days.India, the second largest producer of onion in the world after China, produces around four million metric tonnes of onions annually. However, in 2007 onion production has fallen by 25 percent because of lower market arrivals, lean production and higher demand. (ANI)
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