In November, the government set a minimum price of $850 per tonne for overseas sale of onions, but subsequently reduced it to $700 per tonne. Photo: Hindustan TimesMumbai: India will allow unrestricted export of onions, the government said in an order on Friday, as prices of the politically-sensitive vegetable fell over a third in a month. The world’s biggest exporter of onion had imposed curbs on overseas sales late last year in an attempt to soften local prices. In November, the government set a minimum price of $850 per tonne for overseas sale of onions, but subsequently reduced it to $700 per tonne. Unrestricted exports from India could soften prices in key importing countries such as Bangladesh, Malaysia, the United Arab Emirates and Sri Lanka, traders said.

Source: Mint February 03, 2018 05:26 UTC