India cuts onion export price by $150 per tonne

As India cuts onion prices by $150 per tonne, Bangladeshi traders hope to do good business. The price revision comes nearly two months after it was raised to $852 per tonne. As the decision came into effect yesterday, importers in Bangladesh can now buy each tonne of onion from the neighbouring country at $702.

The Daily Star reported how, on November 23 last year, the National Agricultural Cooperative Marketing Federation of India Ltd fixed the Minimum Export Price (MEP) for onions at $852 for each tonne to combat the onion shortages in the country’s domestic market. India had a lower onion production last season due to adverse weather.

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