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Wholesale onion price surges 118% in two weeks -Tushar Pawar

-The Times of India

NASHIK: The average wholesale price of onions has surged 118% over the past two weeks in Maharashtra, from Rs 571 per quintal on July 13 to Rs 1,250 on Thursday, an 18-month high.

To stabilise the steady rise in the price of the kitchen staple, the Centre may increase its minimum export price (MEP).

The Centre had withdrawn the $700/tonne MEP in December 2015 after a crash in wholesale prices. There has been no MEP for the past 19 months. "The Centre is keeping a close watch on onion prices in wholesale markets," a government source told TOI.

Members of the Lasalgaon Agricultural Produce Market Committee (APMC) have attributed the price spurt to short supply on account of a lull in harvest. "Harvest of fresh kharif crop will begin only in mid-October. Currently, the onions arriving in the market are from old stocks. This is the crop harvested in March and April," said an APMC official.

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