Govt Agencies To Buy Red Onion From Market

New Delhi: After onion prices fell significantly over the last month, the government on Tuesday said it has directed two of its agencies to “immediately intervene” and purchase red onion crops from the market.

Reportedly, India is the world’s biggest exporter of onion, primarily meeting the demand of Asian countries including Bangladesh, Nepal and Malaysia.

Prices of the crop have fallen to as low as 200 rupees ($2.44) per 100 kilograms prompting some farmers to dump the crop in fields in Maharashtra, the largest producer of red onion in the country, where rates have fallen sharply.

“The experts attribute this fall due to overall increased production in other states, reducing the dependence on the supplies from the major producing district of the country i.e. Nashik,” the government said in a statement

 

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