MMTC invites bids for sale of 1,000 tons imported onions

State-owned MMTC today invited bids from local players for sale of 1,000 tonnes of imported onions in the domestic market. MMTC has imported onions from China and Egypt to boost domestic supply and check rising prices.

According to the tender, MMTC is offering 500 tonnes each of imported onions of Chinese and Egyptian origin for sale in the domestic market. Bids should be submitted by October 21 and remain valid up to October 26.

Bidders should lift imported onions from Mumbai. MMTC said it will pay all applicable charges to container freight stations (CFS) or shipping line till the stipulated delivery time period of four days from the date of award of tender.

Thereafter, all the charges for taking delivery from CFS should be borne by the successful bidder, MMTC said.

Onion prices, which had shot up to Rs 80/kg in August in most retail markets across the country due to supply crunch, have now declined to Rs 40-50/kg following several government measures including curbs on exports.

The sale of imported onions is expected to cool down further onion prices.