Short supply triggers single day hike in wholesale price by Rs 44 per kg
KATHMANDU, Sept 16: Black marketing of onions has been rampant in Kathmandu Valley after Indian government announced a ban on the export of this agricultural product. As per the traders, the price has skyrocketed up to Rs 200 per kg from around Rs 110 per kg just in the single on Tuesday.
Issuing a public notice on Monday, the Ministry of Commerce and Industry in India prohibited exports of all varieties of dried onion from India-- the main source of supply of this vegetable item in Nepal.
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With the prohibition order of the southern neighbour, the import almost came down to zero in the Kalimati Market on Tuesday. Until Monday, the country’s largest vegetable market had been receiving around Rs 62 tons of dried onion a day.
As the traders started selling the products at exorbitantly higher prices, Kalimati Fruits and Vegetable Market Development Board was forced to fix the wholesale price of the product at Rs 119 per kg, a single day hike of Rs 44 a kg.
Black marketing of onions has further created a shortage of this agricultural product as the decision of Indian government to ban export of all varieties of onions comes in the wake of the domestic market already witnessing a steady rise in its price.
During the inspection carried out by Kathmandu Metropolitan City on Wednesday morning, Shree Chuli Sagarmatha Traders in Balkhu was found hoarding 200 sacks of dried onion apparently to sell them at higher prices by creating artificial shortage in the market.
