India's onion exports decline 23 per cent
Monday, 9 January 2012
NEW DELHI, Jan 8 (Business Standard): Onion exports from India declined by nearly 23% in the first nine months of the current financial year as compared to last year mainly due to high price of shipment at $250 per tonne.
China and Egypt are dominating the international market by selling bulb at less than $200 a tonne, trade sources said.
India exported 10,37,978 tonnes of onion from April to December 31, 2011 as compared to 13,40,772 tonnes during the corresponding period last fiscal, sources in agri-cooperative Nafed, principal agency that grants no-objection certificate for onion export, said.
Lowering of onion export prices to $250 a tonne has failed to perk up its outbound shipment.
"Since the price of onion in the international market is ruling at less than $200 a tonne, Indian onion with a higher MEP of $250 per tonne is attracting fewer buyers," Ajit Shah, President of Agriculture Export Association, Mumbai told PTI.
After lifting the ban on onion exports in October last year, the government had kept its MEP initially at a high $450 a tonne.
China and Egypt are dominating the international market by selling bulb at less than $200 a tonne, trade sources said.
India exported 10,37,978 tonnes of onion from April to December 31, 2011 as compared to 13,40,772 tonnes during the corresponding period last fiscal, sources in agri-cooperative Nafed, principal agency that grants no-objection certificate for onion export, said.
Lowering of onion export prices to $250 a tonne has failed to perk up its outbound shipment.
"Since the price of onion in the international market is ruling at less than $200 a tonne, Indian onion with a higher MEP of $250 per tonne is attracting fewer buyers," Ajit Shah, President of Agriculture Export Association, Mumbai told PTI.
After lifting the ban on onion exports in October last year, the government had kept its MEP initially at a high $450 a tonne.