Onion Prices Surge at Lasalgaon Market following Export Ban Revocation

Onion prices at the Lasalgaon market in Maharashtras Nashik district went up by average Rs 200 per quintal after the Union Government on Saturday lifted the ban on exports.The Agriculture Produce Market Committee APMC at Lasalgaon is said to be the biggest wholesale onion market in India.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.

Onion prices at the Lasalgaon market in Maharashtra's Nashik district went up by average Rs 200 per quintal after the Union Government on Saturday lifted the ban on exports.

The Agriculture Produce Market Committee (APMC) at Lasalgaon is said to be the biggest wholesale onion market in India.

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 onions. ''There 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.

Some 200 quintals of the bulb arrived at the APMC during the day, sources said.

The prices were in the range of Rs 801, Rs 2,551 and Rs 2,100 per quintal, depending on the quality, they added.

A 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 year.

The export duty will eat into onion growers' profits, another person said.

''Who will pay for the losses we suffered due to the ban,'' a farmer asked. On December 8, 2023, the government banned exports of onions from March 31, 2024. In March, the ban was extended till further orders.

Farmers in Maharashtra had protested against the ban while opposition Congress had also targeted the Narendra Modi government on the issue.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)