India: Onion exports double in Nashik
Sources from the National Agricultural Co-operative Marketing Federation (Nafed) stated that the export of onions had increased by 135% to 1,063,000 tons between April and August as against 460,000 tons during same period in the 2015-16 financial year.
"There had been an excess production of around 250,000 tonnes. Though the export has doubled, the business is not much considering the excess production. Moreover, the rise in exports have been of little use as the farmers were badly hit because of the decline in the wholesale prices. They also could not ensure returns of the their production cost," Nafed director, Nanasaheb Patil, said.
In August 2015, the average wholesale onion price hit an all-time high of $83 a quintal due to a lack of supply. Following this, the Centre increased the MEP of onions in phases up to USD700 to stabilize prices. In December of 2015, the Centre removed the MEP of onions following a decrease in wholesale prices. The zero MEP resulted in a rise of exports.
source: timesofindia.indiatimes.com
