Speculative traders are making super-profits by fixing prices in the onion trade while the government is playing around with ad hoc fixes. On Tuesday alone, wholesale traders in Delhi bought onions at about Rs 34 per kg while it was sold in retail at Rs 80 per kg. That's a margin of Rs 46 per kg or 135%! About 11,445 quintals of onion were bought in the Delhi wholesale markets on...
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Manmohan asks Ministries to bring down onion prices
With the Union government refusing to play Santa Claus and regulate market forces, the merciless rise in onion prices threatens to mar Christmas, New Year and Makar Sankrantri festivities. With several markets reporting a further rise in prices to about Rs.85 a kg, Prime Minister Manmohan Singh intervened, by directing the Ministries of Agriculture and Consumer Affairs to take steps to bring its prices to affordable levels. According to sources, the Prime...
More »Wholesale price dips, onion ban questioned
The Centre today sought to justify the export ban on onion by saying that the wholesale price of onion in Nashik, the country’s largest wholesale hub for the bulb crop, had declined by 33 per cent to Rs 2,500 per 100kg or Rs 25 a kg. The impact will not be felt immediately on kitchen budgets as it will take some time – “two to three weeks”, according to Sharad Pawar...
More »Onions to sting till March by Zia Haq
Retail prices of onions continued to remain high on Tuesday even as a ban on exports led to a 30% fall in wholesale rates. The government, however, cautioned that retail prices would fall from current exorbitant levels (of Rs 75-80 per kg) only after three weeks. But prices are expected to return to the last month's reasonable levels (Rs 20-25 per kg) across the country only in March, when the...
More »PM stings Pawar with onion order
The Prime Minister’s Office has given direct orders to top officials of Sharad Pawar’s department to get cracking after the food minister said it would take “two to three weeks” for onion prices to stabilise. Sources said an annoyed Manmohan Singh has conveyed to Pawar that the time frame set by the minister is too long, especially since prices have skyrocketed within a week. Expressing deep concern over the “extraordinary price rise...
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