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Onion exports down 53% in Aug due to high export prices |
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NEW DELHI: Higher export prices dragged down the country's onion exports by 53 per cent to 87,428 tonnes in August, the fifth consecutive month of decline, according to onion export regulator Nafed.
India's onion exports stood at 1,86,144 tonnes in the same period last year, it said.
"Neighbouring countries such as Pakistan and China have gained as their prices were lower by USD 40-50 at USD 170-180 a tonne last month as against the Indian price of USD 220 a tonne," said a senior official with agri-cooperative Nafed, which is the government's agency for regulation of onion exports.
The minimum export price (MEP) for onions was fixed higher at USD 220 a tonne in August to augment domestic supplies and curb the price rise, the official said.
According to Nafed data, the country's onion exports declined sharply in value terms in August as well. Onion exports during August, 2010, amounted to just Rs 93.39 crore, compared to Rs 221.17 crore in the year-ago period.
Overall, onion shipments during the April-August period of the 2010-11 fiscal stood at 6,86,061 tonnes, down from 9,79,817 tonnes in the same period last year, it added.
In the wake of rising domestic prices, Nafed has further increased the onion MEP for September by USD 55 to USD 275 a tonne. As a result, onion exports are expected to be lower in the current month as well.
According to official data, prices of export quality onions have increased by Rs 250 to Rs 10,500 a tonne in the last few weeks.
Source : economictimes.indiatimes.com
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