A day after the centre prohibited exports, wholesale prices crashed on Tuesday. This led to a rise in wholesale prices and farmers were hoping to recover their losses from the stored onions. Though retail onion prices hovered around ₹40 per kg in the past few months, the ban is timed stem the recent spike in wholesale onion prices. Other than Maharashtra, wholesale onion prices in Indore, Madhya Pradesh, fell by ₹600 per quintal a day after the ban was announced. Between April and June, India exported 0.68 million tonnes of onion, a 23% rise year on year.

Source: Mint September 15, 2020 13:06 UTC