Daijiworld Media Network – Mangaluru (MS)

Mangaluru, May 11: The prices of onions and eggs in the market have skyrocketed. The sudden surge in onion and egg prices in the market can be attributed to several factors, including the withdrawal of export restrictions on onions and the return of students to hostels, which has increased the demand for eggs.

Onion prices have skyrocketed due to the union government's decision to lift export restrictions and unexpected rainfall in parts of Maharashtra, where onions are extensively cultivated. Previously sold at Rs 14-15 per kilogram, onions are now priced between Rs 22 to Rs 25 in the wholesale market and Rs 30 to Rs 35 in the retail market. Rumours of export restriction withdrawal had initially caused price fluctuations, which were further exacerbated by unanticipated rains affecting crop yields in Maharashtra.

With the government allowing onion exports, growers are demanding higher prices for their crops, leading to some hoarding and limited sales. It is anticipated that onion prices may continue to rise in the coming days.

Similarly, egg prices have been fluctuating recently, dropping to Rs 4.80 per piece on May 2 but rising to Rs 6.60 on May 10 in the wholesale market. Retail prices have also increased from Rs 6 to Rs 6.60 per piece. The reopening of student hostels, coupled with increased demand due to cooler weather and the availability of eggs for pregnant women and nursing mothers, has contributed to this price surge.

Egg dealers are capitalizing on the price rise by stocking up during periods of increase and selling off stock quickly when prices are low to avoid losses. Over the past eight days, wholesale egg prices have risen by Rs 1.40, with retail prices climbing from Rs 5.30 to Rs Rs 6.60.