Last Updated :
01 December 2008 at 18:30 IST
NAFED hikes MEP on onion by 25 dolllar
Commodity Online NEW DELHI: In order to ensure the availability of onion in the domestic markets as well as containing prices, Cooperative major National Agricultural Cooperative Marketing Federation (NAFED) has hiked the minimum export price (MEP) of onion by $25 a tonne to an average of $305-310 for December.
According an official, NAFED raised the MEP by 25 dollar to tackle the prices and ensuring availability of the commodity in the domestic markets.
The NAFED had earlier raised the MEP by $50 a tonne in mid-November to contain price rise. The official said fresh onion crops, which were supposed to arrive by the end of October, got delayed by 15 days, putting pressure on stocks.
Wholesale prices of onion in the major producing region of Lasalgaon in Maharashtra moderated to Rs 851 per quintal from Rs 1,021 on November 18, reflecting the impact of the increase in the MEP by $50.
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