MUMBAI: A 50% drop in procurement prices of onions in the last 15 days has led to major losses for farmers. Prices have dropped from ₹3,600 a quintal on December 12 to ₹1,725 a quintal on Monday. Farmers associations have now demanded the removal of the 20% export duty to push exports.
The rise in the fresh harvesting of late kharif onion, coupled with the duty on exports, have led to the drastic fall in prices. The release of the stock procured in the past by the government agencies NAFED and National Consumers Federation of India, which have flooded the markets, has also led to the price drop.
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