India lifts ban on onion export

India has relaxed the export ban on onions, approximately six months after restricting the supply of the popular vegetable to manage prices in its domestic market prior to the election. 

According to a declaration from the Directorate General of Foreign Trade (DGFT), US$ 550 per tonne will be the Minimum Export Price (MEP). Bangladesh's main source of funding for deficits comes from this neighbor.

The decision is important since onions are a politically sensitive item and the country is now holding its Lok Sabha elections. 

Onions are an essential item for cooking, but this past week they went from costing Tk 58–60 per kg to Tk 65–70 per kg.