Related news
Telangana News
Hyderabad's onion market takes a beat
Even onions in Hyderabad took a severe beating due to demonetization. Reportedly, the wholesale traders have stopped buying the produce owing to the cash crunch. This is now expected to witness the rise in price hike of onions.
Onion production will be stopped till November 19th, Hyderabad Onion Merchants Association said, complaining the cash scarcity. Association president Ananth Reddy said that, Malakpet market receives around 70-100 truck loads of onion a day from other states including AP, Karnataka and Maharashtra.
Close to half of this quantity is being consumed locally while the rest of the onions are transported to Ichapuram (AP) and Kolkata and from there they are exported to neighboring countries such as Nepal and Bangladesh.
