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Wednesday, February 24, 1999

Onion prices tumble 

 
Heavy arrival of onions at all Agriculture Produce Market Committees (APMC) in Nashik and confusion over export policy, led to crashing of its prices to Rs 150 per quintal and created panic among farmers.

Though the central government has already lifted the ban on onion export, there are some restrictions and Maharashtra government has given power to Panan Mahamandal to issue No Objection Certificate (NOC) to exporters.

Meanwhile, around 1,000 bullock carts have arrived at APMC with onions for auction and the price ranged from Rs 150 per quintal to Rs 267 per quintal.

The Nashik Traders' Association sources said that after the two-day-holiday, APMC of Lasalgaon received 2,700 tonnes of onions on Tuesday in more than 100 tractors and were auctioned at Rs 240 to Rs 101 per quintal.

Price of onion in Manmad market on Friday was Rs 340 per quintal but on Monday it declined to Rs 240 while at Lasalgaon, the largest onion producing centre, price on Friday was Rs 326 but on Monday it declined to Rs 110 to Rs 240 per quintal.

Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.


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