Onion exports take a big leap on Pak buying
Onion exports have almost doubled to a whopping 8.8 lakh tonne so far this fiscal and may even touch 14 lakh tonne as huge storage coupled with low minimum export prices helped shipments shoot.
By PTI |
NEW DELHI: Onion exports have almost doubled to a whopping 8.8 lakh tonne so far this fiscal and may even touch 14 lakh tonne as huge storage coupled with low minimum export prices helped shipments shoot. Onion exports in September touched 1.4 lakh tonne, against 64,000 tonne in the year-ago period, taking the overall shipments to 8.8 lakh tonne so far from just 4.5 lakh tonne in the same period last year, a senior Nafed official said.
The onion storage, which has shot up by about 5 lakh tonne to 24 lakh tonne this year, along with a lower MEP contributed immensely to the surge in exports, the official said. And, if the shipments continue at this rate, the exports may even reach 14 lakh tonne, he added.
The MEP for September was kept unchanged at an average of $250-255 per tonne amid domestic prices showing signs of stability. Now, it is reduced by $20 to an average of $230-235 per tonne for October, a move that may trigger more exports if domestic prices remain under check.
���The shipments shot up have shot up significantly on the back of demand for onions from neighbouring Pakistan, which has witnessed a major loss of the crop, due to proximity,��� the official said. That apart, good quality products, check in storage losses helped boost exports, he added.
Average wholesale rates of onion this year have inched up to about Rs 850 a quintal in some leading producing regions now whereas they were ruling even at Rs 1,300 a year ago, he said, adding that lower domestic prices prompted traders to export in a large scale this year.
Onion exports are channelised through co-operative major Nafed, in consultation with 12 other state trading agencies, which decide the MEP for every month.
India had exported about 9.9 lakh tonne of onion in 2007-08, against 11.6 lakh tonne in the previous fiscal. In value terms, exports dropped to Rs 1,116 crore from Rs 1,135 crore in the year-on-year period.
Onion from the southern part of the country is exported mainly to Sri Lanka, Malaysia and Singapore, while that from Nasik is sent mainly to the Gulf nations.
At present, wholesale prices in the major onion producing region of Lasalgaon in Maharashtra stood at Rs 861 per quintal on Friday, compared with Rs 891 on September 1.
Similarly, retail prices of onion are ruling within the range of Rs 6-17.60 per kg in different parts of the country as on September 30, according to official data.
The onion storage, which has shot up by about 5 lakh tonne to 24 lakh tonne this year, along with a lower MEP contributed immensely to the surge in exports, the official said. And, if the shipments continue at this rate, the exports may even reach 14 lakh tonne, he added.
The MEP for September was kept unchanged at an average of $250-255 per tonne amid domestic prices showing signs of stability. Now, it is reduced by $20 to an average of $230-235 per tonne for October, a move that may trigger more exports if domestic prices remain under check.
���The shipments shot up have shot up significantly on the back of demand for onions from neighbouring Pakistan, which has witnessed a major loss of the crop, due to proximity,��� the official said. That apart, good quality products, check in storage losses helped boost exports, he added.
Average wholesale rates of onion this year have inched up to about Rs 850 a quintal in some leading producing regions now whereas they were ruling even at Rs 1,300 a year ago, he said, adding that lower domestic prices prompted traders to export in a large scale this year.
Onion exports are channelised through co-operative major Nafed, in consultation with 12 other state trading agencies, which decide the MEP for every month.
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India had exported about 9.9 lakh tonne of onion in 2007-08, against 11.6 lakh tonne in the previous fiscal. In value terms, exports dropped to Rs 1,116 crore from Rs 1,135 crore in the year-on-year period.
Onion from the southern part of the country is exported mainly to Sri Lanka, Malaysia and Singapore, while that from Nasik is sent mainly to the Gulf nations.
At present, wholesale prices in the major onion producing region of Lasalgaon in Maharashtra stood at Rs 861 per quintal on Friday, compared with Rs 891 on September 1.
Similarly, retail prices of onion are ruling within the range of Rs 6-17.60 per kg in different parts of the country as on September 30, according to official data.
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