Commodity News

Onion Price Update! NAFED Invites Bids from Importers for Supply of 15,000 tonnes Red Onions

Chintu Das
Chintu Das

Cooperative Nafed has recently welcomed offers or bids from importers for the supply of 15,000 tons of red onions by November 20, 2020 to support the domestic accessibility and check value rise.

The bidders are requested to supply 40 to 60 mm size of red onions from any nation with a price value of Rs 50 for each kilo by November 20. They can offer for a base amount of 2,000 tons to be provided in different bunches of 500 tons, it said.

Offering will get closed by November 4 and the received offers will be opened around the same time. The shipments are to be conveyed at Jawaharlal Nehru Port and Kandla ports, it added.

"Floated tenders for the supply of 15,000 tons of imported red onions is available. This will help increment the country’s supply situation," Nafed Additional Managing Director S K Singh told PTI. He also added “The received offers will be assessed dependent on volumes, quality and early date of shipment. Bidders need to provide new, all around dried and onions that are cured”.

The onion stock that is managed by Nafed is getting low day by day because of the current situation. Therefore the cooperative is trying to enlarge its stock by importing onions and continue with its market arbitration.

Up until now, Nafed has provided around 37,000 tons of onion from its buffer stock of almost 1 lakh tons in selected mandis and retail markets. This was done so that to keep a check on the retail costs, which have soared to over Rs 80 for each kilo in certain pieces of the nation. Mainly because of the harm to the kharif crops in the wake of weighty downpours in the key developing states.

Commerce and Consumer Affairs Minister Piyush Goyal commented that private traders have just imported 7,000 tons of onion and another 25,000 tons are relied upon to show up before Diwali. 

The administration trusts that the measures taken as of late will assist in easing with the cut throat prices of onions during this celebration time frame.

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