MMTC to import additional 12,500 tonnes of onion from Turkey; fresh harvest also on the way

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India’s rampant onion prices may finally be running out of steam, with fresh supplies of the pungent vegetable set to hit the market next month. In addition, state-owned trading firm MMTC, which has already importing onions on behalf of the government, has contracted an additional 12,500 tonnes of edible bulb from Turkey to boost domestic availability and […]

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Nashik traders, growers seek removal of onions’ stockholding limit

Onion growers and traders in Nashik district — the onion belt in Maharashtra — will soon approach the Centre with a plea to remove the stockholding limits in the wake of increasing arrivals in the markets. NAFED director Nanasaheb Patil told Financial Express a meeting is slated to be held with Nashik’s district collector along […]

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MMTC contracts 4,000 tonnes of onions in addition to the 17,090 tonnes already contracted

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India’s state trading arm, MMTC has further contracted 4,000 tonnes of Onions from Turkey which is expected to arrive by mid-January, 2020. This 4,000 tonnes is in addition to the 17,090 tonnes of onions already contracted which includes 6090 tonnes arriving from Egypt and 11,000 tonnes from Turkey. The Department of Consumer Affairs has also […]

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Govt extends stock holding limit on onion traders indefinitely to check price rise

With onion prices continuing to rise above Rs 100 per kg, the government of India has extended prohibitions on traders from the stocking of edible bulb across the country for an indefinite period to check price rise. Separately, Food and Consumer Affairs Minister Ram Vilas Paswan did not say by when prices of onion will […]

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De-dollarization push by China and Russia, among others might skyrocket gold prices even higher

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The gold bears have finally caved under the deafening barrage of fiscal and geopolitical catalysts, from Fed hints to intensely brewing conflict with Iran. Gold is already trading well above its 5-year high. Not only has the U.S.-Iran conflict reached a boiling point, with Trump readying to deploy an additional 1,000 troops to the Middle […]

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