Onion exports down 72%

Onion exports in November slumped by about 72 per cent to over 30,000 tonnes compared with 1.08 lakh tonnes in the year-ago period due to the government's measures to discourage overseas sales during festive season and hence put a check on domestic prices.

The fall in exports in terms of value is only about 53 per cent because of better realisation in the overseas markets.

The export of 30,714 tonnes in November is valued at Rs 52.04 crore as against Rs 110.72 crore when the country exported 1,08,170 tonnes in the year-ago period, according to Nasik-based National Horticultural Research and Development Foundation.

The price realisation went up to Rs 16,944 a tonne last month while the same was at Rs 10,236 a tonne in November 2006, NHRDF said.

The total exports declined to 4.38 lakh tonnes during April-November period of the current financial year from 8.02 lakh tonnes in the year-ago period.

Nafed along with 12 other export canalising agencies did not revise the export price, which was at $495 a tonne, at the start of November to ensure availability of the commodity in the domestic market during Diwali.

However, they reduced the MEP on November 20 by $70 a tonne to an average MEP of $425 a tonne as domestic prices eased with the arrival of new crop.

The domestic prices in the retail market have also come down substantially to Rs 12-14 a kg in the national capital because of increased arrival. The retail prices of onion had shot up to Rs 30 a kg in Delhi two months back.