India's Onion Exports fell Sharply by 81 Percent in August 2013
India's onion exports fell sharply by 81 percent to 29247 tonnes in August 2013 as compared with August 2012
India's onion exports fell sharply by 81 percent to 29247 tonnes in August 2013 as compared with August 2012 as per the data released by the cooperative Nafed, following the government curbs imposed on the overseas sale to improve domestic supply and check prices.
On 14 August 2013, the government had imposed a minimum onion export price of 650 US dollars per tonne to restrict shipments and control prices after it touched 80 rupees per kg in retail markets on supply crunch. The retail price of onion continues to rule at 50-60 rupees per kg in most parts of the country.
During the April-August period of fiscal 2013-14, onion exports fell to 697028 tonnes as against 850634 tonnes in the year-ago period. However, in value terms, the outbound shipments rose sharply to 1341 crore rupees from 844 crore rupees.
India is the second largest producer of onion in the world after China. It is estimated to have harvested 166 lakh tonnes of the staple vegetable in 2012. The country had earned 2294 crore rupees from the export of 18.22 lakh tonnes of onion in financial year 2012-13.