highlights
The government has authorized NAFED and NCCF to purchase 7 lakh tonnes of onion during this financial year.
Bangladesh, Malaysia and Nepal are the main importers of Indian onions.
New Delhi: The central government may decide to remove the ban imposed on onion export very soon. In about a month, due to the government’s intervention, the retail prices of onion have decreased by an average of 30 percent and wholesale by 35 percent, due to which the government may consider removing the ban imposed on exports in a systematic manner. In fact, the government has played an important role in the procurement as well as disposal of onions. Sources associated with onion trade said that they have been informed by government officials that the Center will allow export by government cooperative societies.
Mumbai APMC director Jaydutt Holkar told TOI, “The government should not have a quota system. They should have an open policy for export of onion like other commodities. We are waiting for the notification. Let us inform that till now, the central agencies have purchased about 25,000 tonnes of Kharif onions from farmers and these have been disposed of together. Because these cannot be stored.
Officials said that due to export ban and government intervention in the market, onion prices have come down drastically and people have benefited from it. While the price of onion was Rs 59 per kg a month ago, it has become Rs 39 per kg this week. Similarly, the average wholesale prices have also fallen from Rs 4,885 per quintal to Rs 3,137 in the last one month. Traders said the arrival of fresh Kharif onion has increased to 15,000 quintals per day in the last few days and there is a need to utilize it rapidly and export of some quantity would be a good proposition. Because now the availability has increased.
Bangladesh, Malaysia and Nepal are the main importers of Indian onions. Allowing calibrated exports will prevent further decline in prices and farmers will get good remuneration. Meanwhile, officials said the government will continue its intervention to keep prices under control. The government has authorized NAFED and NCCF to purchase 7 lakh tonnes of onion during this financial year, out of which 5.3 lakh tonnes have been purchased so far. “Hence, we may still continue to procure up to 1.7 lakh tonnes of kharif and late kharif onions for market intervention,” an official said.
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FIRST PUBLISHED: January 2, 2024, 05:53 IST