News

Onion prices in India remain high

Fresh Onion
Vegetables
India
Market & Price Trends
Published Nov 24, 2023

Tridge summary

The onion supply in India is limited due to unpredictable weather conditions and a longer monsoon season, causing disruptions in harvest and price fluctuations. The Indian government has introduced measures such as export taxes and a minimum export price to address the shortage, but these have not significantly impacted domestic prices. Despite high prices, people continue to buy onions in smaller quantities, and it is expected that prices will start to decline in a month or so.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Because the onion supply in India is small, prices have shot up. They will not decline anytime soon, says Manoj Barai, director of MK Exports: "The situation on the onion market in India has changed many times. This was due to unpredictable weather conditions and also because the monsoon season has lasted longer in some parts of the country. than normal. It caused disruptions in the supply of the new harvest and price fluctuations. For the time being, onion prices are still high and any change is only expected in a month or two." The situation became so bad that the Indian government decided to intervene. According to Barai, this had an effect. “The government initially imposed an export tax of 40% on the FOB value of onions, which was later withdrawn. However, it has now introduced a minimum export price (MEP). This makes exporting onions more expensive. This measure has not had a significant effect on domestic consumers, as prices remain high due to high demand and limited ...
Source: AGF
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