Onion prices still high in India

Egypt, Turkey and Afghanistan come to India’s rescue

In several places in India, onion prices have reached an all-time high of ₹140. The sky-rocketing prices of onions have forced both government and traders to import the vegetable from foreign countries such as Egypt, Turkey and Afghanistan.

Union Finance Minister Nirmala Sitharaman, in her reply during a discussion on supplementary grants, informed the Lok Sabha about the various measures taken by the government to deal with the rising prices of onion. She said there had been a fall in the area of onion cultivation and shortfall in production. “There are also several structural issues related to storage and the government is trying to address them.’’

While the price of onions has crossed ₹100 per kg because of shortage, the Minister said, “Steps taken by the government to check the rising price include ban on exports, imposition of stock limit, import and transfer from surplus to deficit area.’’

The state-run trading firm MMTC has placed another onion import order of 4,000 tonnes from Turkey and the shipments are expected to reach by mid-January.

This is in addition to 17,090 tonnes of onions already contracted, which includes 6,090 tonnes from Egypt and 11,000 tonnes from Turkey, it said in a statement.

The MMTC is importing onions on the behalf of the government, which is trying to check prices by improving domestic supplies through various modes, including imports.

Source: thehindu.com

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