Maharashtra News English news | Maharashtra News, Latest News & Live Updates in English | English News (Latest English News) at Lokmattimes.com

Onion prices across India have witnessed a sharp decline due to multiple factors such as weakening market demand, limited storage capacities, and an overall lack of efficient processing infrastructure. Government procurement agencies like NAFED and NCCF have received a lukewarm response during their recent onion buying efforts. Adding to the crisis, Bangladesh—a key export market for Indian onions—has adopted a firm stance by relying on its local produce. Meanwhile, large volumes of onion from southern states, Maharashtra, Madhya Pradesh, and buffer stock from NAFED and NCCF are poised to enter the market simultaneously, further increasing supply and deepening the price crisis. Experts predict that this sudden influx of supply will cause onion prices to fall even further. Currently, onions from the southern states have slowly entered local markets and are expected to dominate them shortly, leaving little demand for onions from Maharashtra. Presently, farmers are receiving just ₹1,300 to ₹1,400 per quintal, with fears that prices may drop further. Although rumors of NAFED halting procurement have spread, officials have denied this and confirmed that 22 centers remain active in the state. However, if over three lakh tons of onion from various states hit the market simultaneously, prices may spiral downward, causing significant distress to farmers. **Calls Grow for Increased Export Subsidy to Counter Pakistan, China Competition** As the domestic market continues to be oversupplied, experts have highlighted the growing threat from international competitors like Pakistan and China. Both countries have produced abundant onion crops this year and are offering them at lower prices in global markets. Experts argue that Indian exporters cannot compete globally without stronger government support. They are urging the government to increase the current export incentive from 1.9% to 5%, which could help stabilize domestic prices and make Indian onions more competitive. A memorandum demanding this hike has already been submitted to the Union Commerce Minister, with exporters emphasizing the benefit it would bring to the entire supply chain. In the meantime, farmers are stockpiling onions in storage sheds, hoping for a turnaround in prices. However, weak demand has led to inactivity at NAFED and NCCF procurement centers. If prices remain low, traders and farmers alike could face severe financial stress. Meanwhile, Bangladesh—traditionally the largest importer of Indian onions—has reported a strong domestic harvest this year, reducing its dependency on Indian supply. As a result, India’s onion exports to Bangladesh have significantly slowed. However, experts believe that by August, Bangladesh may need to import onions again, potentially offering temporary relief to Indian exporters and farmers.

Maharashtra NewsFOLLOW

Maharashtra news, Latest News

A shocking hit-and-run incident has come to light from Radhanagari taluka in Kolhapur district. A group of minors, allegedly ... ...

The Maharashtra government has announced insurance coverage for 1.5 lakh 'Govindas' taking part in Dahi Handi festivities, with a ... ...

After years of delay, the long-awaited Madh-Versova creek bridge project is finally moving ahead. Initially conceived in the 1967 ... ...

Mumbai and its neighboring districts were battered by heavy rainfall on Thursday, with forecasts predicting continued showers on Friday. ... ...

In 2010, Yashwantrao Chavan Memorial (YCM) Hospital under the Municipal Corporation introduced an e-health card system to digitally record ... ...

The Thane Municipal Corporation (TMC) has issued a notice informing residents about a scheduled water cut on Friday, July ... ...

A survey conducted on November 24, 2023, by the District Civil Surgeon revealed that there are 266 pathology laboratories ... ...

Onion prices across India have witnessed a sharp decline due to multiple factors such as weakening market demand, limited ... ...