India suspended its exports of onions

After the soaring price of onion, India had to suspend exports.

Prices have surged in recent days, from 35 rupees per kilo (0.58 €), onions have reached 80 rupees per kilo (1.34 €).

 
To calm prices, the government decided to stop issuing export permits until at least until January 15th. The suspension is in effect "until the internal situation is improving, " said the Minister of Commerce.

This price increase is attributed to speculation but also to the failure of crops affected by heavy rains in the west and south.

This year, the planned production was 95 lakh tons (9,500,000 tons), an increase of 10 lakh tons (1,000,000 tons). India has three seasons of the onion – kharif , end of Kharif and rabi (summer). The harvest was 60% of total production.

 
Source: AFP, Daily Times, Times of India