Asia Edition
Onion prices per kilo surged to 35 Egyptian pounds this month. They were 10 pounds cheaper last month and about 12 pounds per kilo a year ago. This rise in the price of onions has been met with anger from Egyptians that already reeling from record-high inflation. Some Egyptians blame the traders, saying that different vendors have been giving her different prices for the same kind of vegetables, leading her to believe that more intervention is needed to keep them in line.
In a bid to bring down prices, the government last week announced a three-month ban on onion exports, which amount to 1 million tons annually; a third of the country’s total annual output. However, on Saturday, the Egyptian Ministry of Trade and Industry announced that the ban would be postponed to October 1 on account of previously arranged export agreements.
[ 10 pounds = €0.31 ]
Source: thenationalnews.com
