Prices of essential commodities including onions drop

The price of onions which recently soared has gone down significantly.

Last week, wholesalers were selling an onion sack for MVR 900. Prior to this, an onion sack had been priced at MVR 650. Meanwhile, a kilo of onions was priced between MVR 37 and MVR 40.

However, the prices have dropped as of present.

Some of the sellers who spoke with Sun from the local market area said a kilo of onions was priced between MVR 15 and MVR 20. They underscored that there was no longer any shortage in the availability of onions.

Prior to the sudden price hike, a kilo of onions had been priced between MVR 20 and MVR 25. Henceforth, the current price of onions is much cheaper.

Notably, prices of other essential commodities have also dropped.

In this regard, the price of lime which had been placed at MVR 140 per kilo has been reduced between MVR 40 and MVR 50 per kilo.

The price of chillis had also been significantly high last month with a kilo priced higher than MVR 180. Presently, 100 grams of chillis is priced between MVR 15 and MVR 20 while a kilo is priced at MVR 160.

A carrot kilo which had been priced at MVR 40 previously is now priced at MVR 30. Prices of lettuce and collard (Copy Faiy) have also gone down.

According to sellers, the current prices of the commodities are cheaper than the prices they are usually sold.

Sellers attributed the hike in prices to the hike in the rate of US dollars.

Another reason cited by sellers was the hike in the price of containers which has led to a decrease in the number of people importing products such as onions in containers leading for sellers to increase reliance on wooden boats. As a result, they said the demand was higher than the supply.