Aug 21, 2013, 06.06 PM IST
In more bad news, onion prices in various parts of the country have shot back up to Rs 70 and Rs 80 per kg. There has been a Rs 10 jump in prices in less than 24 hours.
This came even as Nafed on Wednesday floated a global tender for the import of an undisclosed quantity of onions from Pakistan, Iran, China and Egypt to boost domestic supply and curb prices. The wholesale price at Lasalgoan in Maharashtra - Asia's largest onion market - on Wednesday rose slightly to Rs 41.25 per kg.
"Nafed is interested to import onions from Pakistan, Iran, China and Egypt. Interested parties having experience in importing onions may specify the quantity that can be offered and rates on cost and freight per tonne along with final rate per tonne in INR for delivery," the cooperative said.
Imported onions from these countries should be of good quality and completely free from fungus infestation and attack by insects and moulds. Nafed has sought phytosanitary and fumigation certificates issued by a Competent Authority of the exporting country certifying onions are fumigated with Methyl Bromide are free from smut, dry rot and maggot.
Onion prices have skyrocketed since last fortnight as the crop in Maharashtra, the largest growing state, is expected to be lower due to drought in some parts. Besides, supplies from other growing states like Rajasthan, Madhya Pradesh, Andhra Pradesh and Tamil Nadu are not coming as rains have affected transportation and logistics.
To control rising prices, the government had imposed a minimum export price (MEP) of USD 650 per tonne and had directed cooperative major Nafed to import onions. Onion prices are likely to be under pressure till October when the new crop is expected to hit the market.
With inputs from agencies.
Video of the day
Dec 13 2013, 10:39
- in MARKET OUTLOOK
Dec 4 2013, 11:08
- in FII View
Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.