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India Onion Hits Rs 2/kg in Nashik, Trading Suspended

Discussion in 'Breaking News' started by kds1980, Feb 10, 2011.

  1. kds1980

    kds1980 India
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    http://biz.zeenews.com/news/news_content.aspx?newscatid=1&newsid=20831

    Zeenews Bureau

    New Delhi: After leaving the aam admi teary eyed, rebounding Onion prices appear to be taking the middlemen- who made a killing during the spike- down with them.

    As per reports Wednesday, the continuing arrival of thousands of quintals of onion at Lasalgaon mandi in Nashik has led to a situation where the “priced” commodity is being traded at Rs 2 per kg.

    Following the deluge, the trading has been suspended in the mandi, dubbed as the biggest onion market in the country.

    The glut has also made the farmers restless.
    After the highs of Rs 75-80 per kg in later December last year, there has been a continuing fall in onion prices leading to the agriculture ministry discontinuing, from Feb 1, with the 30% subsidy that the Centre was offering to farm cooperatives for subsidised onion sale.
     
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