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Minimum floor price of $850 per tonne imposed on export of onions

India has set a minimum price of $850 per tonne for overseas sale of onions

Reuters  |  Mumbai 

India set a minimum price of $850 per tonne for overseas sale of onions, a government order said on Thursday, as the price of the politically-sensitive vegetable surged to its highest in two years in the local market. Traders cannot export onions below $850 per tonne until the end of 2017, the order said. Average prices at Lasalgaon, India's largest wholesale onion market in the western state of Maharashtra, rose to Rs 3,211 ($49.62) per 100 kg last week, the highest in two years. "Exports are not possible at $850. Egypt and Pakistan are selling at much lower ...

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First Published: Thu, November 23 2017. 15:17 IST
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