MMTC contracts to procure 6,090 tonnes onion to boost supply, cut prices

State-owned trading firm MMTC, which is importing onion on the behalf of the Centre, has placed an order of 11,000 tonnes of edible bulb from Turkey as part of its efforts to boost domestic supply and ease soaring prices, sources said.
This is the second import order placed by the MMTC. The public sector firm is already importing 6,090 tonnes from Egypt.
Last month, the Union Cabinet approved importing 1.2 lakh tonnes of onion to improve the domestic supply and control prices that have skyrocketed to Rs 75-120 a kg across major cities now. The Centre has already banned exports and imposed stockholding limit on wholesalers and retailers for indefinite period.
According to sources, MMTC has contracted 11,000 tonnes of onion imports from Turkey and the consignments are expected in January next year.
The company had placed an order for the first consignment of 6,090 tonnes of onion from Egypt which will be arriving at Nhava Sheva (JNPT), Mumbai in the second week of this month. The imported onion is being offered to state governments for distribution at the rate of Rs 52-55 a kg ex-Mumbai and Rs 60 a kg ex-Delhi.
To monitor onion prices, a Group of Ministers, chaired by Home Minister Amit Shah, has already been constituted. Finance minister, consumer affairs minister, agriculture minister and road transport minister are also members of this panel. A Committee of Secretaries (CoS) and Consumer Affairs Secretary Avinash K Srivastava is also constantly reviewing the situation.
Onion prices remain high across the major cities of the country as the average selling price ruled at Rs 75 per kg on Saturday (November 30) while the maximum rate of Rs 120 a kg was recorded in Mayabunder, according to the data compiled by the Consumer Affairs ministry.
On November 19, Food and Consumer Affairs Minister Ram Vilas Paswan had said onion production in kharif and late-kharif seasons of 2019-20 is estimated to fall 26 per cent to 5.2 million tonne.
Onion is a seasonal crop with harvesting period of (March to June), kharif (October to December) and late-kharif (January-March). During July to October, the supply in the market comes from stored onions from rabi (winter-sown) season.
“During 2019-20, there was a 3-4 weeks delay in sowing as well as decline in sown area of the kharif onion because of late arrival of monsoon. Further, untimely prolonged rains in the major growing states of Karnataka, Maharashtra and Madhya Pradesh during the harvesting period caused damage to the standing crops in these regions,” Paswan had said.
“It’s not in our hand, the government is making maximum efforts but who can win from nature,” he recently told reporters when asked by when onion prices will come down to reasonable level. According to the consumer affairs ministry data, onion is being sold at Rs 76 a kg in the national capital, Rs 82 in Mumbai, Rs 90 a kg in Kolkata and Rs 80 a kg in Chennai. The lowest price of Rs 42 a kg of the bulb was reported from Gwalior in Madhya Pradesh and Vijaywada, the data showed.
A competent multi-tasker, the laptop has superb computing mettle with decent audio
The new generation of these popular headphones amp up the sound and improve noise cancellation plus a few new ...
CreditAccess Grameen, a Bengaluru-based microfinance company, has signed an agreement to buy ...
This is how the new Snapdragon processors is going to change the smartphone market
Returns do not move up commensurately to justify the higher risk on lower-rated bonds
The fund has managed to ride out volatility in the past two years through deft asset allocation
Your debit/credit card, mobile plan or SIP may offer free insurance cover; it is essential for you to pay ...
India will soon join the rest of the world in the shift towards passive investing, says Margaret Franklin
The World Health Organization estimates that depression and anxiety — among the more prominent mental health ...
A documentary on The Savoy is reaping awards at international festivals
A Bengaluru entrepreneur revives a traditional cotton weave with a sheen that can beat silk
A new volume of essays examines the multidimensional impact of climate change on India, and why development ...
Kerala wants to be India’s creative hub where designers ideate, imagine and innovate for tomorrow
How Fujifilm has used its imaging strength to re-invent itself
Tech interventions are speeding a brand’s journey to the store
Storytelling meets consumer insights over a cup of coffee
With land and State resources in short supply, only higher education can challenge social hierarchies, says ...
Fee hike can hit students of low-income groups
The fees for the flagship Post Graduate Programme (PGP) in Management at the Indian Institute of ...
Farmers, reeling under crop losses, feel the Centre’s crop insurance scheme is merely helping insurance firms ...