The price of shallot in the wholesale onion market here was fluctuating between ₹30 and ₹60 per kg on Wednesday.
From a high of ₹110 to ₹130 per kg, the price took a steep dive due to huge arrivals, according to merchants here.
Till February, the arrival of shallots, once in 7-10 days, was anywhere around 1,000 bags, while it has scaled up to 5,000 bags now. As the news spread, consumers came in large numbers from early morning to purchase them in large quantities, said M. Marimuthu, a merchant.
The shallots which arrived here from Mysuru, Udumalpet, Dharapuram, Rasipuram and other towns was selling at ₹30 and ₹60 per kg depending on the quality. Big onions (Bellary variety) too witnessed steady arrivals as 20 truck loads reached the wholesale market since early hours of Tuesday and it was being sold at ₹20-35 per kg. Last week it was selling at ₹35-55, he added.
While the local onion/shallot growers from Gujiliyamparai, Eriodu, Vedasandur and other hamlets were waiting for the harvest to be taken up from next week, the market speculation was that the prices may fall by another ₹10 per kg.
At a time, when petrol price was looking upwards, the news that onion prices had fallen came as a good news to the consumers, said Rajasekaran, a regular visitor to the wholesale market here.
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