Govt exports 260,000 tn onions till Jul 31, procures 468,000 tn
This story was originally published at 21:47 IST on 7 August 2024
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NEW DELHI – The government exported a total of 260,000 tn of onions till Jul 31 in the current financial year started March, it said in an official press release today. The Centre has also procured 468,000 tn of onions, majorly from Maharashtra through the National Cooperative Consumers' Federation India Ltd and National Agricultural Cooperative Marketing Federation of India Ltd.
The procurement through these aforementioned nodal bodies is for the price stabilisation buffer. The government had earlier lifted the ban on onion export on May 4, and allowed shipments from India with a minimum support price of $550 per tn with an import duty of 40%.
In comparison with last year, the price realisation by onion farmers in the current year has been much higher, the government said. The average monthly spot prices of onion in Maharashtra between Apr-Jul were in the range of 1,230 rupees and 2,578 rupees per 100 kg compared with 693 rupees and 1,205 rupees per 100 kg for the corresponding period last year.
It also said the average procurement price of onion for the buffer in the current year was 2,833 rupees per 100 kg, which is 64% higher than the price of 1,724 rupees per 100 kg last year. India is a net exporter of onions, and it exported 35.13 bln rupees worth of the vegetable to global markets during 2023-24. In 2022-23, the country exported onions worth 45.26 bln rupees. End
Reported by Sayantan Sarkar
Edited by Vidhi Verma
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