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Tuesday, October 18, 2011

Onion prices on continuous rise

ISLAMABAD: The price of Onion in the weekly bazaars of the capital continuously increasing as it has increased from Rs 30 to Rs. 40 per Kg within period of one week.

On the other hand the price of tomato in the weekly bazaars witnessed decrease from Rs. 80 to 64 with a reduction of Rs. 16 as compared to previous Sunday.
The vendors of tomato were of the view that main reason of decrease in price is the increase in the supply in the vegetable market situated in I-10.
They said the prices would have been settled on daily basis and today (Sunday) the market of tomato was low due to increase in supply and decrease in demand.
Abdur Shakoor, a vendor of onion and potatoes in G-6 weekly bazaar, said supply of imported onion had decreased recently and they were buying onion from importers at a higher price. "The price has increased as we are short of supply ahead," he replied.
He added the suppliers of onion has sale out the previous stock upto Rs. 26 to 28 per Kg so that rise in its prices witnessed presently.
An agriculturalist namely Ijaz Khan told this scribe that prices of Onion, Garlic, Tomato, Potato and Green pepper would rise continuously until advent of Eid-ul-Adha.
He added some of the importers also have stocked Onion to earn the remarkable profit by reducing the supply in the vegetable markets before the occasion of the Eid.
He said supply of Onion through Kabul and Afghanistan route also witnessed low, which caused the bulk of its prices.
He said production of green pepper was badly affected by monsoon rains, which causes increase in its rates as presently it costs Rs. 92 per Kg.
Muhammad Iqbal, a whole dealer of garlic, ginger and green pepper said increase in rates was natural as prices fluctuate according to demand and supply principle. “The prices of edibles items would increase further,” He added. Online