India's onion export rose by 56 per cent to 12.29 lakh tonnes in April-July this year, but the country has now gone in for import of the kitchen staple as retail prices have shot up to Rs 65-70 per kg because of tight supplies.
In value terms too, the onion export increased by 47.69 per cent to Rs 1,443.09 crore in the period under review, from Rs 977.84 crore a year ago, it said.
Last week, the government allowed state-owned agencies like MMTCBSE -2.36 % to import onion from countries like Egypt and China to increase availability and cool retail prices that have skyrocketed to Rs 65-70 a kg level in many parts of the country.
According to data maintained by the Directorate General of Commercial Intelligence and Statistics (DGCIS), the country has exported 12.29 lakh tonnes of onion during April-July of 2017-18, up 56 per cent from 7.88 lakh tonnes in the year-ago period.
Exports increased during April-July because of two reasons: firstly, there was no minimum export price (MEP) and second, the global prices remained much higher,the state- owned National Horticultural Research and Development Foundation (NHRDF) acting Director P K Gupta told PTI.
The exports helped farmers get better rates for their produce during the first quarter of the fiscal when local prices had fallen sharply. However, with old stocks getting depleted and rise in local prices, the exports have slowed, he said.
Original Source: economictimes.indiatimes.com
In line with the Prime Minister's ‘per drop more crop’ initiative, the government on Wednesday approved a corpus of Rs 5,000 crore for the setting up of a dedi...
The Goods and Services Tax (GST) Council is set to hold its 27th meeting on Friday to decide on the proposals to simplify the return-filing process and consider imposing cess ...
In a bid to Promote Export of Mango and Mango products, APEDA, Ministry of Commerce and Industry in association with PHD chamber of Commerce and Industry, is organizing the Re...