He also said that the Kharif sowing this year was nearly three times the average sowing.. This is counterproductive because of competition from other countries like China and Pakistan, who sell lower, while Indians exporters have to wait for buyers, exporters said. Now, after the MEP is zero, they will buy at an average of 10,000 tonnes per day,” he said. The effect on prices will be seen only on Monday,” he said. “The last time when the Centre reduced the MEP, the markets were closed for three days due to holidays. Mr Patil said that removal of MEP was a belated decision andshould have had been taken earlier. “Due to this large quantities of onions are arriving in the markets. However the prices are expected to appreciate by Rs 200 to Rs 300 per quintal on Monday,” he stated. “We were continuously following upon this issue with the government and regularly sent reminders,” he said. The removal of MEP will definitely give respite Wheel lighters Manufacturers to the farmers.

Lasalgaon Agriculture Produce Market Committee chairman Nanasaheb Patil stated that there are always holidays preceding the MEP removal. MEP is the minimum official price by which exporters may sell their product in international markets.Onion merchant Sohanlal Bhandari said that purchase for exports was low, as, being the yearend, international markets are closed.Now exports of onions will be possible to countries like Sri Lanka, Singapore and Bangladesh. The Centre had increased MEP on onions to $700 from the earlier $425 in August when prices rose to `80 per kg.With the Centre removing the Minimum Export Price (MEP) on onions on Thursday, farmers and traders are looking forward to better prices but it is difficult to gauge the effect on Friday as markets are With the Centre removing the Minimum Export Price (MEP) on onions on Thursday, farmers and traders are looking forward to better prices but it is difficult to gauge the effect on Friday as markets are closed for four days and will reopen on Monday. “Exporters felt that exports would commence next year and began buying nearly 5,000 tonnes daily."

The gauge finally ended 759.The gauge finally ended 759. Apart from the rising bond yield in the US and EM currency woes, there are global trade skirmishes impacting the sentiment, he added.09 in afternoon trade. Vijayakumar, chief investment strategist at Geojit Financial.19 per cent, lower at 34,001. This is the lowest closing since April 11. It had gained 461.K.Nifty makes its decade-worst start to October quarter.“This sell-off is part of the global sell-off triggered by the sharp cut in the mother market US,” said V.74 points, or 2. Smoking Set Mumbai: The Sensex slumped over 750 points to end at a six-month low and NSE Nifty ended below the 10,300 mark on Thursday as global indices witnessed across-the-board losses after investor sentiment was hit by heavy sell-off in world markets.

The 30-share index, which commenced with a gap down opening, cracked over 1,000 points, breaching the 34,000-mark and hit a low of 33,723.Meanwhile, the Nifty is off to its weakest start to the October quarter since 2008 after a global sell-off on Thursday further dented investor sentiment just as the Indian economy enters its peak-demand festive season.— Agencies.15.42 points on Wednesday.15.74 points, or 2.Across the globe, share markets sank in a sea of red after Wall Street suffered its worst drubbing in months, as fears over rising US Treasury yields sparked a broad sell-off of risky assets.19 per cent, lower at 34,001.53, before staging a partial recovery to touch a high of 34,325.This is leading to capital outflows from emerging markets (EMs) like India.