Onion prices increase due to local and export demands

Magships Resources is a global player in the Agro trade, with its comprehensive infrastructural expertise to handle array of agro products

Nashik: Onion rates are increasing in Nashik and will continue until at least a fortnight when harvests of other varieties of onion will begin in Nashik. The minimum rates increased by Rs 5 per kg on Tuesday. On Tuesday the rates per kg were maximum Rs 26.07, minimum Rs 15.00 and average Rs 23.61 in Lasalgaon Agriculture Produce Market Committee. On Monday the rates per kg were maximum Rs 25.17, minimum Rs 10.00 and average Rs 24.50.

“The rates have increased due to domestic and export demand,” stated Dr Atmaram Kumbharde, Chairman of Chandwad Agriculture Produce market committee on Tuesday. On Friday, the Central Government removed Minimum Export Price (MEP) on onions which was Dollars 700 per ton. As MEP was hindering onion exports, its removal boosted the export front and prices increased.

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