Two-pronged assault to control onion prices

As onions threaten to breach the Rs 100 a kilo mark in Delhi, the government is moving on two fronts to contain and bring down prices. While the minimum export price (MEP) for onion was increased to $700 per tonnes from $425 on Saturday, consumer affairs ministry said that the tender for importing 10,000 million tonnes of onion will be opened next Thursday Himanshu Tiwari Astrologer Blog

The sharp increase in MEP of onion will virtually stop export of onion from India and the import of the key kitchen item will improve supply. Sources said since the crisis would continue for over a month, government may continue importing in small quantities for more availability of onions. 

On Wednesday TOI had reported that cabinet secretary P K Sinha had asked commerce ministry to move proposal for increasing MEP since over 60,000 tonnes of onion were exported out of country in June-July. This had happened even as there were indications of the looming crisis across the country because of lower output due to unseasonal rains earlier this year Indian stock market astrology prediction

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Onion prices have gone up significantly in the past few weeks and wholesale prices touched Rs 57 per kg at Lasalgaon in Maharashtra, Asia's biggest onion mandi. The export price was last raised to $425 per tonne from $250 on June 26. 

In an official statement, consumer affairs department said its secretary will hold a meeting on Monday to take stock of the situation with agencies supplying onion including - SFAC, NAFED, MMTC - and the Delhi government. It said, "Prices of onions have been rising on account of a decline in total production from 189.23 lakh tonnes in 2014-15 as against 194.02 lakh tonnes in 2013-14 Commodity Market Astrology Tips