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Fashion retailers in India suffer sales pain as tomato, onion prices surge Across India's malls and high streets, the mood at fashion shops is sombre - foot traffic is down, sales are low and many brands are embarking on steeper-than-usual discounts for longer-than-usual periods of time. The culprit? Sky-high food inflation after erratic monsoon rains damaged crops and disrupted supply chains. Prices for tomatoes have rocketed, at one point close to five times since June, while those for onions, another staple in Indian cooking, have risen 80% in some area...
Fashion retailers in India suffer sales pain as tomato, onion prices surge
Fashion retailers in India suffer sales pain as tomato, onion prices surge
Source: Reuters
28/08/2023 12:21:15 PM
Taming rising prices a priority for India, finance minister says India's finance minister on Friday said taming inflation was a priority, and that hiking interest rates was not the only tool available. "Obsession to use interest rates as the only tool to deal with inflation and not manage the supply side factors will not give a complete solution," Nirmala Sitharaman said. Annual retail inflation in July rose to its highest in 15 months as vegetable and cereals prices skyrocketed, beating all market expectations and putting pressure on t...
Taming rising prices a priority for India, finance minister says
Taming rising prices a priority for India, finance minister says
Source: Reuters
25/08/2023 4:41:43 PM
Nepal faces onion shortage after India imposes 40% export duty Nepal is facing onion shortage after India imposed the 40 per cent export duty on the commodity. Since Tuesday, the Kalimati Fruit and Vegetable Market in Kathmandu wiped onion off its price list after exporters stopped importing onion from India. "We have 80 vendors that sell out onions but in the last two days, they are running out of the onion stock so we have wiped off the price list of onion because it is no more available," said Binay Shrestha, information officer of Kal...
Nepal faces onion shortage after India imposes 40% export duty
Nepal faces onion shortage after India imposes 40% export duty
Source: IANS
23/08/2023 4:02:44 PM
Government imposes 40% duty on onion export The government on Saturday imposed a 40 per cent export duty on onion exports till December 31. The announcement was made through a notification on Saturday. This notification shall come into force with immediate effect, and will remain in force up to and inclusive of the December 31, 2023. The prices of several vegetables including onion, potato and tomatoes have skyrocketed in last few weeks. Following the soaring prices of tomatoes, the government decided that it will sell tomatoe...
Government imposes 40% duty on onion export
Government imposes 40% duty on onion export
Source: IANS
20/08/2023 8:57:12 AM
Unlike domestic inflation print, globally food prices ease across categories With a weightage of 0.57 per cent in the CPI basket, pricing pressures in Tomato is unlikely to substantially impact the headline inflation unless prices of other two main crops (potato and onion) move in tandem, JM Financial Institutional Securities said in a research. The higher than expected headline inflation (4.81 per cent  vs 4.6 per cent  est.) was on the back of sharp uptick in inflationary pressures in the vegetables and pulses category. The deflationary trend in the ...
Unlike domestic inflation print, globally food prices ease across categories
Unlike domestic inflation print, globally food prices ease across categories
Source: IANS
14/07/2023 3:31:27 PM
Nafed to procure kharif onion in Gujarat to prevent falling prices National Agricultural Cooperative Marketing Federation of India Ltd, (Nafed) will initiate procurement of kharif onion to address the issue of falling prices of the commodity in Gujarat. The move is expected to provide stability to the onion market in the state. Taking stock of the situation due to depressed prices of Onion in late Kharif season in the state, department of consumer affairs has directed NAFED to start procurement of onion from three major markets in Gujarat. NAFED wil...
Nafed to procure kharif onion in Gujarat to prevent falling prices
Nafed to procure kharif onion in Gujarat to prevent falling prices
Source: IANS
8/03/2023 11:45:55 AM
No restriction on onion exports, says Centre The Central government has said that it has not restricted or prohibited the export of onions, and that $523.8 million worth of onions from April to December 2022 were exported. The extant export policy of onions is 'free', it has said, adding that only the export of onion seed is 'restricted' and that too is permitted under authorisation from the directorate general of foreign trade (DGFT), the commerce ministry said in a statement. DGFT through its notification issued ...
No restriction on onion exports, says Centre
No restriction on onion exports, says Centre
Source: IANS
26/02/2023 3:48:27 PM
Punjab to set up centre of excellence for onion with Dutch assistance In yet another initiative to provide farmers a substitute to conventional crops, the Bhagwant Mann-led Punjab government on Friday announced setting up of a state of the art centre of excellence for onions in Sangrur district. This would be the third centre of excellence to be established in sync with the Indo-Dutch agreement in Punjab, said Horticulture Minister Fauja Singh Sarari. The minister was presiding over a meeting with PUM expert from the Netherlands, Tjaart Hoffmanpum, and st...
Punjab to set up centre of excellence for onion with Dutch assistance
Punjab to set up centre of excellence for onion with Dutch assistance
Source: IANS
30/07/2022 10:21:21 AM
2.50L tonnes of onions procured to meet lean season demand  Onion prices in the upcoming lean season of the produce are unlikely to skyrocket as the Centre has procured 2.50 lakh tonnes of onion for the buffer stock in 2022-23. Officials on Friday said this is the highest procurement as the onion buffer size in the current year is 0.50 lakh tonnes higher than the 2 lakh tonnes created during 2021-22. The onions were procured from the current rabi harvest for the price stabilisation buffer. The stocks have been procured by National Agricult...
2.50L tonnes of onions procured to meet lean season demand
2.50L tonnes of onions procured to meet lean season demand
Source: IANS
15/07/2022 5:05:25 PM
Prices of onion cheaper than last year, says Centre Prices of onion are now cheaper than last year with all India retail price at Rs 40.13 kg and wholesale price at Rs 3,215.92 per quintal. Onion prices had started rising from the first week of October, due to rains that disrupted the supply chain. In order to cool down prices, the Department of Consumer Affairs had taken up calibrated and targeted release of onions from the buffer on First-in-First-Out (FIFO) principle, guided by the twin objectives of moderating prices and ensuring minima...
Prices of onion cheaper than last year, says Centre
Prices of onion cheaper than last year, says Centre
Source: IANS
4/11/2021 12:31:51 PM
India exported 87000 tonnes of onion during Jan-Feb 2021 : Narendra Singh Tomar India exported around 87,000 tonnes of onion in the early two months of this years after the government lifted ban on the export of the bulb since January1, 2021, Union Minister of Agriculture and Farmers Welfare Narendra Singh Tomar on Tuesday informed Lok Sabha in a written reply. Replying to the questions asked by T. R. Paarivendhar and A. Ganeshamurthi, members of the Lok Sabha, the Minister said, "The export of onion was free which was prohibited ...to deal with shortage in suppl...
India exported 87000 tonnes of onion during Jan-Feb 2021 : Narendra Singh Tomar
India exported 87000 tonnes of onion during Jan-Feb 2021 : Narendra Singh Tomar
Source: IANS
10/03/2021 10:10:55 AM