Onions reach US$950 a ton

The State Trading Organisation is trying to import more onions and potatoes into the country, in an attempt to bring down the current high prices of these two basic commodities.

But according to Miadhu, the STO might have to look elsewhere than India for onions where a ton of onions currently costs US$950.

However, India does provide letters of credit which enables the STO to purchase these goods without buying foriegn currency.

Managing Director Shahid Ali said that STO aims to sell these goods at affordable rates to retailers.