Tur dal is being sold below MSP in 3 states, expected to slump further
The Dollar Business Bureau After a record surge last year, tur dal prices have witnessed a sudden slump in the wholesale market this year, falling considerably below the Minimum Support Prices (MSP) level. Tur dal prices came down to Rs.4500 per quintal, as it has fallen by more than half in the last quarter alone. In addition to the bumper crop of the commodity last year, supported by the Government’s demonetisation drive, the prices have crashed to a record level. The major tur dal producing countries including Karnataka, Maharashtra and Gujarat had a good crop year in 2016. In Karnataka, the total production is projected to touch 20-25 lakh metric tonnes compared to 12.50 lakh metric tonnes last year. Wholesale prices in the country’s main tur ...
Maharashtra asks Centre to scrap minimum export price on onion
Source: PTI With wholesale prices down to the Rs.10 per kg level, the Maharashtra government has asked the Centre to scrap the minimum export price (MEP) for onions to help boost overseas shipments. In August, the government had hiked onion MEP to $700 per tonne, from $425, as prices at both wholesale and retail levels were skyrocketing on lower output due to unseasonal rains earlier. MEP is the rate below which no exports are allowed. The rise in MEP restricts exports and improves domestic supply. “In a letter written to the Union Agriculture Ministry, the Maharashtra government has demanded removal of onion MEP to encourage exports, which would protect interest of farmers,” a senior Agriculture Ministry official said. India exported 4,59,097 ...
