Onion prices soar, curbs imposed on exports

onion-exportsNew Delhi, Dec 20 : The central government Monday banned fresh permits for onion exports till Jan 15 following a big jump in its price in local markets.

Onion is currently selling between Rs. 60-70 per kg in local markets.

A food ministry official told reporters that agriculture cooperative major, National Agricultural Cooperative Marketing Federation of India Limited (NAFED), has been stopped from giving fresh clearance to exporters.

"We have decided to suspend issuing no objection certificate (NOC) to onion exporters till Jan 15. A decision has also been taken to double the minimum export price to $1,200 per tonne for those NOCs which are yet to be implemented," the official said.

The official suspected speculative elements behind the price rise.

The price of onion is seen as a parameter of vegetable prices in the country.(IANS)

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