In Lasalgaon, India, the Agriculture Produce Market Committee (APMC) witnessed an 11% decrease in the average wholesale onion price, dropping to Rs 1,600 per quintal from Rs 1,800, triggered by uncertainty over the government's stance on onion export restrictions.
This volatility followed a significant 40% price surge on Monday, from Rs 1,280 to Rs 1,800 per quintal, amid speculations of a potential lift on the export ban. An APMC spokesperson attributed the decline to exporters' reluctance, pending official government guidance, stating, "Hence, exporters stopped buying the produce that led to the drop in price." The day saw onion prices ranging between Rs 800 and Rs 1,952 per 100 kgs, with approximately 1,300 tons auctioned. Bharat Dighole, president of the Maharashtra onion growers association, highlighted the adverse impact of the export ban imposed last December, urging for governmental action to safeguard farmer interests and stabilize prices.
[ Rs 100= €1.10 ]
Source: timesofindia.indiatimes.com