Sep 14, 2019

Indian onion prices skyrocket

With theIndian Commerce and Industry Ministry imposing restrictions on the export ofIndian Bombay Onions, the price per kilo of B Onions has risen to around Rs.220.

Accordingly,since last since last weekend the price of a metric ton of onions imported fromIndia cost around $ 850.  

Theexporters have also been adviced to only market onions through letters ofcredit. With Indiaimposing new regulations for the export of B onions, the B onion traders aretrying to purchase the produce of local farmers at a meagre amount.

It isreported that with the harvesting of B onions in the Dambulla area havingcommenced, these cunning traders are planning a strategy to purchase their Bonion harvest at a very low price.   

DGFT Notification 19 for MEPLC