Farmers across the country have suffered a double whammy this year - first, their crop from last season was spoilt by floods, and then onion yield also dropped due to moisture in fields
Onion prices have been high for past few weeks due to fall in production of the Kharif crop following unseasonal rainfall in key growing states
Onion prices have been ruling high for the past few weeks even as various measures have been initiated to increase supply of the key kitchen staple
Traders who have imported onions without fumigation or having endorsement of such treatment on phytosanitary certificate will be allowed to fumigate in India through an accredited treatment provider
I-T sleuths checked account books of some wholesale dealers against physical stocks of the commodity
The consignment would be inspected thoroughly by quarantine officials and released only if found free from pests and diseases of concern to India.
Hussain also directed agencies to work in coordination with each other to ensure timely, regular and adequate supply of onion through mobile vans
Vegetables surges by 10% to trade at Rs 55.5 a kg in Lasalgaon mandi. It is being sold for Rs 70-80 in retail across the country
This is largely because the surge in recent weeks is due to the rains in Maharashtra, which could impact kharif harvest if they continue unabated
Last week's measures to curb prices, such as the levy of MEP and permission for duty-free import failed to curb the price rise
Sathe had earlier sent Rs 1,064, his earnings from onion sale in the wholesale market, to PM Modi on November 29 as a protest
With onion price volatility every year, experts suggest futures trading with an action plan based on a price band and forward trading with delivery-based settlement. At times, farmers have thrown away their onion produce due to excess supply making the cost of taking this to the wholesale market higher than the prevailing price. It happened in Madhya Pradesh last year. And, on the other hand, consumers sometimes suffer due to soaring prices , due to supply shortage or trader cartelisation. Both situations occur frequently. Annual production is 19-20 million tonnes, concentrated in a few states; the consuming states are many. Several sowing cycles and intermittent gaps between sowing and harvesting usually create ripples and prices go up sharply and fall as sharply. A 40-50 per cent price movement in a month is no surprise. Some years before, the retail price touched Rs 100 a kg, raising fear of unrest. A need was felt for a long-term solution by introducing derivatives trading, to ...