Minimum price of $800 per tonne imposed for Indian onion exports

Published 2023년 11월 3일

Tridge summary

The Indian government has imposed a minimum price of $800 per tonne for onion exports, starting from October 29, in an effort to increase availability in the domestic market and control prices. Additionally, the government plans to purchase an additional 200,000 tons of onions for storage to maintain adequate supply for consumers. The decision to impose the minimum price comes as a strike by Mathadi workers in support of the Maratha reservation protests disrupts operations in the onion market and causes losses in the transport sector.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Over the weekend, the Indian government imposed a minimum price of $800 per tonne for onion exports until December 31 this year, hoping to increase the availability of the vegetable in the domestic market and keep prices under control. This decision takes effect from October 29. In addition, the government has announced that an additional 200,000 tons of onions will be purchased for storage, in addition to the 500,000 tons already acquired. The minimum price applies to all onion varieties, except Bangalore Rose and Krishnapuram onions, and to processed onions (cut or powdered). An official statement said this move will help maintain adequate availability of onions for domestic consumers at affordable prices as the quantity of 2023 rabi onions stored decreases. The minimum price of $800 per tonne equates to approximately Rs 67 (€0.67) per kilogram. Strike The APMC wholesale market in Vashi remained closed for the entire day on Friday due to a strike by Mathadi workers (main ...

Source: Uiennieuws