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The Indian government s decision to ban onion exports until March 2024 resulted in a drastic 60% price decline in less than three weeks. The ban aimed to address issues like under-invoicing and wrong export policies, including the absence of a fixed floor price with the initial export duty and the subsequent removal of duty without a minimum export price. ....
Onion Prices Surge Latest News: As the festive season commences and the cold weather sets in, the relentless surge in onion prices has left consumers feeling the pinch. Just as the skyrocketing tomato prices had people in tears, onions are now causing distress as their costs in various districts across the country breach the Rs 100 per kilogram mark. Over the past few days, the onion, which once sold at Rs 35-40 per kilogram, has witnessed a sharp rise, with prices hovering around Rs 60-70 per kilogram. Traders are even speculating that onion prices might hit the Rs 100 per kilogram mark before the upcoming Diwali festival. ....
Over 500 traders in Nashik district, responsible for procuring onions from all 15 Agricultural Produce Market Committees (APMCs), have initiated an indefinite strike. This strike will significantly affect onion supply across the country. The traders are protesting against the lower prices offered by two central government agencies, Nafed and NCCF, which procure onions from farmers in Nashik and distribute them at lower rates compared to what traders offer. ....
The Central government will sell onions at Rs 25 per kilo to consumers, said minister of Consumer Affairs and Food Piyush Goyal on Tuesday. The central government has started the procurement of an additional 2 lakh tonne of onion from farmers in Maharashtra. The decision to procure this additional stock came after farmers in Maharashtra protesed the government s decision to levy a 40% export duty on sale of onions. ....