After having been soaring with the skyrocketing price for the past few weeks by causing uncertainty among the people in consuming the Onions, the prices have been slightly lowering in the Chennai markets, a day after the traders had imported about 35 tonnes of Onion from Egypt.

The reports say that the onion prices of the premium quality onion at the wholesale market in Chennai decreased to Rs 130 per kilogram while the other onion varieties have been marketing for Rs 60 per kilogram whereas the retail shops in the city have been trading onions at Rs 140 to Rs 150 per kilogram. While, on one hand, the onion import from Egypt has been aiding to bring the aberrant situation to normalcy, on the other hand, the markets have been procuring at least 40 truckloads of Onion from the states of Andhra Pradesh, Karnataka, and Maharashtra for the past three days that had played a vital role in lowering the prices.

The traders have said that they have been coming through the change in the prices and cited that the quality of the procured goods remains good and further asserted that the prices would likely decrease in upcoming weeks after the markets get more yields from the fields. The reports stated that the stocks have been shipped from Egypt and arrive at the market through Mumbai port and the traders are expecting to ground about 500 tonnes of Onions in Tamil Nadu in the next few days that would largely contribute to lower the skyrocketing price.

Last week, the price of the Onions was at the peak and sold around Rs 200 per kilogram and the National Agricultural Cooperative Marketing Federation of India and the Metals and Minerals Trading corporation have been aiding the states of high demand to import and to procure the onions.