Onion exports up 25% in FY'14 on higher unit value
New Delhi: Backed by spurt in unit value realisation, India's onion exports surged in value terms by over 25 percent to Rs 2,877 crore in the 2013-14 fiscal, even as volumes registered tepid growth.
The country's total onion exports had stood at Rs 2,294 crore in the 2012-13 fiscal.
However, in volume terms, exports fell by 25.46 percent to 13.58 lakh tonnes during the FY 2013-14 as against 18.22 lakh tonnes in the previous year.
"Exports in value terms rose in 2013-14 primarily on account of increase in unit value realisation," said a senior official of the cooperative firm Nafed.
According to Nafed data, the unit value realisation improved by 68 percent to Rs 21,183 per tonne from Rs 12,590 per tonne in the review period.
Onion shipments picked up since December 2013 after the government lowered the minimum export price (MEP) to USD 150 a tonne from USD 350 a tonne.
The government had imposed MEP on onion in September 2013 after which it was raised several times to curb exports and boost domestic supplies as retail prices had shot up as high as Rs 100 per kg in many parts of the country. The government had to even import onion to control price rise.
With improved domestic supplies and crash in wholesale rates, the Centre had later done away with the MEP to boost exports.
India's onion production is estimated to be higher by 13 percent at 189.8 lakh tonnes in the 2013-14 crop year (July-June), from Rs 168 lakh tonnes a year ago.