Minimum export price of $800 per ton imposed on Indian onions

This weekend, the Indian government imposed a minimum export price (MEP) of $800 per ton on onion ex…

This weekend, the Indian government imposed a minimum export price (MEP) of $800 per ton on onion exports till December 31 this year, hoping to increase the availability of the vegetable in the domestic market and contain prices. The decision will come into effect from October 29.

Besides, the government has also announced the procurement of additional 200,000 tons of onions for the buffer, over and above the 500,000 tons already procured. The MEP is there for all varieties of onion except Bangalore Rose and Krishnapuram onions; and for cut, sliced, or broken in powder forms.

An official statement said that the step will help in maintaining sufficient availability of onion to domestic consumers at affordable prices as the quantity of stored rabi 2023 onion is declining. The $800 per ton MEP translates into about Rs 67 per kg.

Vashi APMC workers strike over Maratha quota
The APMC wholesale market in Vashi remained shut for the entire day on Friday due to Mathadi workers' (head loaders) strike in support of the ongoing Maratha reservation agitation. Due to this decision, retailers made a good profit from the stock leftover from the previous day.

Mathadi leader Narendra Patil: "We are extending our wholehearted support to the Maratha agitation for reservation as the issue has been pending with the government for years. This was just a token strike and similar actions will follow suit if the government fails to address this serious issue at the earliest."

It is  reported that the unloading operations at onion, potato, foodgrain, masala and dry fruits market were completely stopped. As a result, nearly 2,500 trucks were impacted, resulting in losses to the tune of over a crore to the transport industry.

[ Rs 100 = €1.10 ]