| GEO Business|
Traders stem onion import from India, Iran
| Updated at: 1258 PST, Monday, October 18, 2010|
KARACHI: Buoyed by the arrival of onion crops from Sindh and Balochistan, the traders have halted the onion imports from India and Iran, Geo News reported Monday.
Talking to Geo News, Karachi Wholesale Vegetable Market President Haji Shahjahan said the onion is still short in the local market and a price hike of record Rs200/ maund was recorded within a week, causing the commodity to mount by Rs1400/ maund in the local market.
Thus, onion surged to Rs45/kg from Rs35/kg.
Shahjahan said the crops from Sindh and Balochistan have started to pour into markets, raising the expectations of lower prices of the commodity, adding Sindh’s entire crop will have come into market by November.
The traders have stopped importing more onions from Iran, Kabul and India, as local crop have started to come into the market, he added.