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Onion prices may fall 20% in two weeks

Karnataka crop arrives, harvesting in Gujarat to start next fortnight

A labourer carries a sack of onions
A labourer carries a sack of onions

Onion prices are likely to fall 20 per cent in two weeks when the new crop from Saurashtra begins arriving in markets. Onion prices have softened 15 per cent this month following raids on hoarders in Nashik, the national hub for production and trade. To discourage exports, the commerce ministry raised the minimum export price of onion to $700 a tonne on August 28, over $300 higher than the prevailing price in importing countries. The government also allowed MMTC to import 10,000 tonnes of onion, which is expected to arrive in October. “These efforts helped cool onion prices. ...