The government set a minimum price of $850 per tonne for the overseas sale of onions, a government order said on Thursday, as the price of the politically-sensitive vegetable surged to its highest in two years in the local market.
Traders cannot export onions below $850 per tonne until the end of 2017, the order said.
Average prices at Lasalgaon, India’s largest wholesale onion market in the western state of Maharashtra, rose to 3,211 rupees ($49.62) per 100 kg last week, the highest in two years.
“Exports are not possible at $850. Egypt and Pakistan are selling at much lower level,” said a
