MMTC places order of edible bulb from Turkey to boost domestic supply

MMTC has placed an order of 11,000 tonnes of edible bulb from Turkey as a part of its efforts to boost domestic supply and ease the soaring prices. This is the second import order placed by the company. It is already importing 6,090 tonnes from Egypt.

Last month, the Union Cabinet approved importing 1.2 lakh tonnes of onion to improve the domestic supply and control prices that have skyrocketed to Rs. 75-120 per kg across major cities now.

The Centre has already banned exports and imposed stockholding limit on wholesalers and retailers for an indefinite period. MMTC has contracted 11,000 tonnes of onion imports from Turkey and the consignments are expected in January next year.

MMTC is engaged in the business of metals, fertilizers, agri-products, precious metal, mineral & ores, hydro - carbon. It’s the largest non-oil importer in India.

Today, the stock of MMTC Limited opened at Rs. 18.20 and was trading in the narrow range of Rs.18- 18.20 on the BSE.