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Income Tax officials raid premises of nine onion traders in Nashik English.Lokmat.com

Income Tax officials raid premises of nine onion traders in Nashik

The Central government on September 14 banned the export of all varieties of onions except those cut, sliced or ...
Income Tax officials raid premises of nine onion traders in Nashik

The Central government on September 14 banned the export of all varieties of onions except those cut, sliced or broken in powder form, with immediate effect, in an apparent move aimed at increasing domestic supply and reducing the prices.

The Centre on Friday decided to give partial relief to onion exporters by easing restrictions on certain varieties of the staple for foreign shipments. Accordingly, 'Bangalore Rose' and 'Krishnapuram' varieties up to 10,000 MT each can now be exported, subject to certain conditions.

The Central government on September 14 banned the export of all varieties of onions except those cut, sliced or broken in powder form, with immediate effect, in an apparent move aimed at increasing domestic supply and reducing the prices.

The Centre on Friday decided to give partial relief to onion exporters by easing restrictions on certain varieties of the staple for foreign shipments. Accordingly, 'Bangalore Rose' and 'Krishnapuram' varieties up to 10,000 MT each can now be exported, subject to certain conditions.

Income Tax officials on Wednesday raided the premises of nine onion traders in Nashik which are still ongoing.

Wholesale onion prices at Lasalagaon’s onion market have crossed the Rs 4,800/- per quintal mark earlier this week with the supply of quality onion deeply hit. The steady rise in onion prices since the last few months have seen the government clamping down on exports. Traders said, the raids is another attempt to influence the prices in the mandis.

The increase in the current prices are said to be due to heavy rains that destroyed the onion crop in Karnataka. Currently, onions held in storages in Maharashtra are the ones feeding the market

Wholesale onion prices at Lasalagaon’s onion market have crossed the Rs 4,800/- per quintal mark earlier this week with the supply of quality onion deeply hit. The steady rise in onion prices since the last few months have seen the government clamping down on exports. Traders said, the raids is another attempt to influence the prices in the mandis.

The increase in the current prices are said to be due to heavy rains that destroyed the onion crop in Karnataka. Currently, onions held in storages in Maharashtra are the ones feeding the market

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