Onion prices likely to dip in Delhi as ‘Kanda Express’ on way
Onion prices in Delhi are likely to dip with the arrival of the Centre's 'Kanda Express' in the national capital on Sunday, as per reports.
The government on Saturday notified minimum export price (MEP) of $800 per metric tonne on onion export with effect from October 29 till December 31, 2023.
The measure has been taken to maintain sufficient availability of onion to domestic consumers at affordable prices as the quantity of stored Rabi 2023 onion is declining by curbing the quantity of onion exports.
The MEP of $800 per metric tonne translates into about Rs 67 per kg.
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Along with the decision to impose MEP on onion exports, the government has also announced the procurement of additional 2 lakh tonnes of onion for the buffer, over and above the 5 lakh tonnes already procured.
Onion from the buffer has been disposed continuously from the second week of August in major consumption centres all over the country, and also supplied to retail consumers at Rs 25 per kg through mobile vans operated by NCCF and NAFED.
Till date about 1.70 lakh metric tonne of onion has been disposed from the buffer.
The continuous procurement and disposal of onion from the buffer are undertaken to moderate the prices for consumers while ensuring remunerative prices to the onion farmers.
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