India lifts ban on onion export
India today withdrew the ban on onion exports nearly six months after restricting the shipment of the popular vegetable to contain prices in its domestic market ahead of the election.
The neighbouring country, the main source for Bangladesh to meet deficits, said the Minimum Export Price (MEP) would be US$ 550 per tonne, according to a Directorate General of Foreign Trade (DGFT) notification.
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The decision assumes significance, as the onion is a politically sensitive commodity, and it comes amid the Lok Sabha elections in the country, reports our New Delhi correspondent.
The price of onion, the essential cooking ingredient has soared to Tk 65-70 a kg from previous week's rate of Tk 58-60.
Several onion traders blamed the price hike on their suppliers and farmers from different districts. They alleged that the suppliers were stocking onions ahead of Eid-ul-Azha.
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