Onion price hike: In a fortnight after the price of onions increased more than one and a half times the government in action

Nashik In the last fortnight, onion prices rose more than one and a half times, the government has withdrawn the exemption on its exports. Due to this, it can stop fast.

According to a notification issued by the Directorate General of Foreign Trade (DGFT), merchandise exports from India scheme (MEIS) on onion has been reduced from 10 percent to immediately zero.
The onion exporters were being given the benefit of the slip fee equal to 10 percent of the FOB (loading value) of the goods under the MEIS. This slip can be used to pay a variety of charges, including the original import duty. DGFT said that it is ending the profit being given for export of fresh and cold stored onions.
Retail inflation: inflation at 7-month high
In December last year, the rate of incentives for onion exports was increased from 5% to 10 under MEIS. It was to continue till June 30 this year.
The decision to withdraw the stimulus is particularly important in the sense that the central government has started making buffer stocks of 50,000 tonnes of onion in the coming months to avoid the rising prices of the producers in the coming months.
IDBI Bank cuts rates up to 0.05--0.10 per cent

Better prices for farmers

The biggest producer of onion, in Lasalgaon, Maharashtra, on Tuesday, the prices of onions were Rs 600-1,428 per quintal. Onion prices in the state's Peepgaon have been sold at Rs 400-1,601 per quintal. On May 13, the onion in Lasalgaon was Rs 400-851 and in Peepgaon it was Rs 200-1,121 per quintal.
Bank fraud: 2.05 lakh crore fraud in banks during last 11 years
Due to the increase in prices in wholesale, retail prices of onions have gone up by 15-25 per kg. Due to the excessive production of last onion onion, farmers had to sell onions at 50 paise and one rupee per kg.
Dry in producing states
Due to the decline of oilseed cultivation, weak prices may increase
In major producing states like Maharashtra, Karnataka and Andhra Pradesh this year is drought-like situation. According to the second estimate of the Agriculture Ministry, onion production is estimated to be 232.8 lakh tonnes in the crop season 2018-19, whereas last year's onion production was 232.6 lakh tonnes.
Now it is feared that due to drought, the government can revise production estimates. Production of onion in India is done in both Rabi and Kharif seasons. 60 percent of the total production is in Rabi.
Do not need to leak dung, it can also be cool like this car
More than half of Maharashtra's grip on drought
This year, there are drought like situation in Maharashtra. Due to this, onion production is expected to decline in many areas. Due to the decrease in production, the demand for onion, which will be born between April to November, can also increase the prices. It is worth noting that 60 per cent of Maharashtra's share is facing a terrible shortage of water.

Related News