After remaining shut for 13 days, the Nashik wholesale onion markets will function as usual from Wednesday following the revocation of ban on onion exports by the central government, a traders' group chief said.
"From tomorrow (Wednesday) morning, one lakh quintals of onion will start arriving for auction in the market. The rates are expected, depending on the quality of the produce, between Rs 8-11 per kg," Onion Exporters Association president Sohanlal Bhandari told IANS.
Soon after the ban, the prices had dipped to around Rs 5-6 per kg.
He said that the farmers and traders are relieved by the central government’s decision to lift the ban on exports which had hit them severely on the eve of the ensuing festival season.
Bhandari also expressed hope that the prices in the wholesale and retail markets - which had shot up in the past few days - would soon stabilise by the weekend as fresh onion stocks are distributed.
However, on the reported losses suffered by farmers on account of the 13-day strike and rotting of huge quantities of onions, Bhandari said the issue would be tackled later.
{{/usCountry}}However, on the reported losses suffered by farmers on account of the 13-day strike and rotting of huge quantities of onions, Bhandari said the issue would be tackled later.
{{/usCountry}}During his visit to Mumbai last Saturday, union finance minister Pranab Mukherjee had indicated that the central government would take a final decision on lifting export ban by Tuesday.
Earlier on Tuesday, Food Minister K V Thomas announced the empowered group of ministers (EGOM) had withdrawn the ban on onion exports to help farmers.
The government banned onion exports Sep 9 to control rising prices, which touched Rs 25 per kg in retail market.
A high-level delegation from Maharashtra, led by state agriculture minister Radhakrishna Vikhe Patil, too last week met top union ministers seeking removal of the ban, while Chief Minister Prithviraj Chavan had pressed the issue during his meeting with Mukherjee in Mumbai last week.
India's onion production is estimated at 151.36 lakh tonnes in 2011-12, which is higher than the previous year's output of 145.62 lakh tonnes.