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Onion prices skyrocket in India, affects south east Asian countries

Onion prices skyrocket in India, affects south east Asian countries
Highlights

The price hike in onions across the nation hasn't affected majority of other world nations

Onion prices have taken a high road and have been steadily increasing in the sub continent over the last few months. While the government has been taking steps to ensure the supply is being met with the rising demand, the prices do not seem to be getting any cheaper for Indians. Currently, onions are being sold at Rs 200 per kg. Onion prices soared above Rs 200 per kg for some grades in the Solapur market of Maharashtra because of acute shortage of the commodity. The prices are expected to remain the same or increase, as per traders.

While the Rs 200/kg mark was breached in Solapur for a consignment of 300 kg, the price was lower in other markets. Even as India looms in the crisis, countries across the world have been fairly unaffected by the pricing.

South East Asian countries closer home like Bangladesh have been facing the brunt, due to exports being stopped by the government. In Dhaka, the teeming capital of Bangladesh, the price of onions is out of control, jumping 700 percent in recent months and doubling in the past week alone. 120 taka or INR 101.

In Sri Lanka the prices have risen to 280-300 Sri Lankan rupees or INR 110.

Last year, Nepal imported 370 million pounds of Indian onions. Now the onions aren't coming in.

First world nations, have been largely unaffected by this, with onion prices in USA currently at USD 0.78 or INR 55.

In Prague, the prices are at a comfortable INR 20/-

As of middle eastern nations like UAE, the prices have been steady at an average of Rs 50/-

The government has stated that the demand in the nation will be handled by controlling exports and bringing in imported onions. Many eateries across the country have been facing tough times as Indian cuisine is heavy on the use of onions.

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