10 January,2011 08:26 AM IST | | Mid Day Correspondent
Fall in rates attributed to increased supply from other states and action against hoarders
It's a start. Onion prices fell by Rs 5 to Rs 55-60/kg in metros across the country on Sunday, taking cues from wholesale markets, where rates have been on the decline due to increased supply and raids on hoarders.u00a0
Wholesale price of onions declined by Rs 3/kg to Rs 40-47 in Delhi, Mumbai, Kolkata and Chennai on Sunday, according to reports.u00a0 Traders attributed the fall in wholesale rates to increased supply from Gujarat, Maharashtra and Rajasthan, besides raids by the Income Tax (I-T) Department on hoarders across the country.u00a0
Though the retail prices of onions declined on Sunday, they are still high when compared to the going rate of Rs 25-30/kg in the first week of January 2010. During the past two days, the I-T authorities have raided the premises of onion traders in Delhi and other parts of the national capital to check hoarding.
