PEC floats EoI for empanelment of global onion suppliers

Import of onions by PEC will help improve the domestic supplies and curb price rise

State-run PEC Ltd has floated an expression of interest (EoI) for empanelment of international suppliers for import of 3 lakh tonnes of onion.

Import of onions by PEC would help improve the domestic supplies and curb price rise. Onion prices continue to rule at an unaffordable rate at around 60-70 per kg in most of the retail markets across the country.

According to the PEC, a supplier or trader of onion can apply for empanelment but he should have supplied about 30,000 tonnes of onion in the last three years.

The applicant's turnover should be approximately Rs 50 crore in each of the preceding three years. He should also submit documentary proof including copy of certified audited annual accounts for last three years, the PEC said.

The last date for submitting the application would be August 26, it added.

Experts said it makes sense for PEC to import as global prices are ruling lower at present in the range of $450-550 per tonne as against $650 per tonne in India.

Onion prices in India have firmed up as supply of the commodity from key growing states has affected due to rains.