The government should come forward to stop the rapid increase in onion prices. Today, the central government has set a minimum export price of $800 (about Rs. 66.7 thousand) per tonne of onion. This decision will remain in force till the end of this year i.e. 31 December 2023. The Directorate General of Foreign Trade (DGFT) has issued a notification in this regard. Earlier, the government had imposed a 40 percent duty on onion exports on August 19 and the deadline was set for December 31. This decision has also been taken to control the price of onion. While the duty on Bengaluru rose onion was removed in late September, provision was also made for approval of export volumes from the Karnataka government.
Onions make you cry a lot
Talking about the domestic market, onions are crying a lot. Its price has reached Rs 65-80 per kg in capital Delhi due to low supply. Mother Dairy has around 400 successful retail outlets in Delhi NCR where it is selling at Rs.67. E-commerce portal BigBasket is also selling it at the same price but local sellers are selling it for Rs 80.
Fear of prices going up to ₹100
Onion makes people cry during the festive season but there is still no hope of relief. It is expected to reach Rs 100 per kg in the coming weeks. This increase in prices appears to be due to supply issues. Supply has been disrupted due to end of rabi onion and late arrival of kharif onion. According to a report by news agency PTI, the central government on October 27 decided to increase the sale of onion in the retail market by Rs 25 from its buffer stock. The government has been supplying onions from buffer stock since mid-August. Since mid-August, around 1.7 lakh tonnes of onions have been distributed across 22 states.