Prices of basic kitchen staples at APMC have increased by an average of Rs 433 per quintal. | Photo: Shutterstock
Onion prices rose at Lasalgaon Agricultural Produce Market Committee (APMC) in the district on Saturday following the Union government’s decision to scrap the minimum export price (MEP) and halve the export duty, sources said.
Lasalgaon APMC is one of the largest wholesale onion markets in the country.
Prices of kitchen essentials at APMC have increased by an average of Rs 433 per quintal, sources said.
“Removal of MEP is definitely a good decision. The market has picked up a bit. We feel that there should not be any export ban. Imposition and removal of such things affects the market. Now that MEP has been removed, farmers’ onion production is drying up,” said Balasaheb Kshirsagar, chairman of Lasalgaon APMC. “It is not yet clear whether export charges have been reduced by 20 per cent or 40 per cent,” he told PTI.
On Saturday, 425 vehicles or 5,182 quintals of onions arrived in the market. Prices ranged between Rs 3,700 and Rs 4,951 per quintal and Rs 4,700 per quintal on average. On Friday, around 302 vehicles (3,736 quintals) of onions had arrived and prices were Rs 2,800 per quintal as the minimum, Rs 4,411 per quintal as the maximum and Rs 4,267 per quintal on average, APMC sources said.
The government has halved the export duty on onions from 40 to 20 percent. The reduction in duty will come into effect from September 14. The 40 percent export duty was in effect from May 4.
The decisions, including scrapping the MEP on onion and basmati rice and cutting export duties, were taken ahead of assembly elections in Maharashtra and Haryana.
(Only the headline and image of this report may have been reworked by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First published: September 14, 2024 | 19:47 IS
Disclaimer:
The information contained in this post is for general information purposes only. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the post for any purpose.
We respect the intellectual property rights of content creators. If you are the owner of any material featured on our website and have concerns about its use, please contact us. We are committed to addressing any copyright issues promptly and will remove any material within 2 days of receiving a request from the rightful owner.