Onion prices rise at Lasalgaon market after export ban lifted

Onion prices at the Lasalgaon market in Nashik district of Maharashtra went up by average Rs 200 per quintal after the Union Government on Saturday lifted the ban on exports reported the PTIThe Agriculture Produce Market Committee APMC at Lasalgaon is said to be the biggest wholesale onion market in IndiaAccording to the PTI the government earlier in the day lifted the ban on onion exports but imposed a minimum export price MEP of USD 550 per tonne amid ongoing Lok Sabha elections On Friday night the government imposed a 40 per cent duty on export of onionsThere is some hike in the market Average prices have increased by around Rs 200 per quintal Farmers will benefit from the decision but the real impact will be known on Monday when the market reopens said Balasaheb Kshirsagar APMC chairman as per the PTISome 200 quintals of the bulb arrived at the APMC during the day sources saidThe prices were in the range of Rs 801 Rs 2551 and Rs 2100 per quintal depending on the quality they addedA farmer at the market told a news channel that lifting of exports ban was a good decision but it should remain in force for at least one yearThe export duty will eat into onion growers profits another person saidWho will pay for the losses we suffered due to the ban a farmer askedOn December 8 2023 the government banned exports of onions from March 31 2024 In March the ban was extended till further ordersFarmers in Maharashtra had protested against the ban while opposition Congress had also targeted the Narendra Modi government on the issueGovt lifts ban on onion exports imposes minimum export price of USD 550tonneGovernment on Saturday lifted the ban on onion exports subject to a minimum export price of USD 550 per tonne a decision that can help boost income of a large section of farmers and comes ahead of the Lok Sabha polls in key producing regions including Maharashtra as per the PTIThe government has imposed a minimum export price MEP of USD 550 per tonne around Rs 46 per kg as well as 40 per cent export duty Taking duty into account the shipments will not be allowed below USD 770 per tonne around Rs 64 per kgOn December 8 last year the Centre had banned onion exports in early December to control retail prices amid concerns over likely fall in production During the last 45 years the country annually exported between 17 lakh and 25 lakh tonnes of onionsConsumer Affairs Secretary Nidhi Khare said the lifting of the ban would not lead to any price rise in retail marketsPrices will remain stable If at all there is any increase it should be very marginal she said while asserting that the government is committed to protect the interests of both consumers and farmers the news agency reported on Saturdaywith PTI inputs