Minimum export price of $ 850 per ton was raised by raising onion prices

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Mumbai, Ta. 13 September 2019, Friday

With the onion wholesale price surpassing Rs 5 per kg, the Indian government has decided to impose the minimum export price. The government has also issued a tender for importing 2 tonnes of onion.

After weakening for more than a year, onion prices have recently risen, which is becoming compensatory for farmers.

The government has decided to impose the minimum export price for onion prices during the festive season and skyrocketing availability of households, official sources said. The minimum export price is kept at $ 1 per ton. Exporters will not be able to export onions at such a low price.

Wholesale prices of onions at Lasalgaon, Maharashtra, the country's largest onion market, have been around Rs 5 per kg for more than six months. At present, onion prices are rising between Rs 1 and Rs 5.

In some districts of Maharashtra, drought and heavy rainfall in some have affected the onion crop which has raised its prices, market sources said. One tonne of imported onion is likely to arrive in the country by the end of November.

Lasalgaon market in Maharashtra's Nasik district is becoming a benchmark of onion prices across the country. Onion supply has also been affected by excessive rainfall in some states this year, sources said.

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