India’s Ban on Export of Onion leads to Arbitrary Pricing in the Market

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India’s Ban on Export of Onion leads to Arbitrary Pricing in the Market

September 16: The price of onion has skyrocketed in the market after the Indian government banned the export of onion. The retail price of onion has reached up to Rs 100 as the traders have started fixing the price arbitrarily.

The import of onion has stopped in the Kalimati Fruits and Vegetables market since September 14 after India banned the export.

The price of onion was rising in Nepal some days before India banned the export. According to the daily price list of Kalimati Fruits and Vegetables Market, the price of onion has increased by 89 percent in the last 15 days.

The wholesale price of onion, which was Rs 42 per kg on September 1, has increased to Rs 75 per kg since then.

The shortage of onion in Nepal is expected to become acute after India stopped the export.

Vinay Shrestha, information officer of Kalimati Fruits and Vegetables Market Development Board, says that traders have already increased the price in Nepal due to the increase in price in India. He claims that arbitrary prices should not be fixed while selling old products that were in stock.

“The domestic production of Nepal cannot meet the market demand while onions cannot be imported from India now. Consumers will face the problem after the ban by India,” said Shrestha.

Some traders have suddenly increased the price of onions. Onions were being sold at Rs 75 per kg on Tuesday, while it was sold at Rs 100 per kg in the same afternoon.

 

 

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