Business Mantra News
- Govt. puts curb on Exports of onion as price rise of onion led to shortage in domestic market. Is this step of Govt. really admirable?
- Due to rapid increase in onion price Indian Govt. restricted supply of onions to the international markets. The decision has been taken to bring down prices of onion in the Indian domestic markets.
- The onion prices started rising in July this year and since then the price got tripled.
- Onion is an essential part of the millions of people’s diet in Asian countries as such restrictions on exports of onion will lead price rise in the Asian countries like Bangladesh, Malaysia and Pakistan until India lift curb on exports of onions.
- Curbing exports of onion is good decision of the Govt. and it would be more benefited if taken few months earlier. Since now, illegal hoarding/black marketing have already been made by the traders.
- Government has also decided to import 2000 Tons of onion which is not sufficient for one day’s consumption.
- But why action on hoarders and black marketers is not taken at the initial stage of price rise because it has been observed that price of vegetables including onion start rising every year in July