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Onion prices rally in Asia as India restricts exports

Onion prices in Bangladesh have trebled in recent months , hitting an all time high of 100 taka ($1.22) a kg this week

Reuters  |  Mumbai | Dhaka 

Asian countries like Bangladesh and Malaysia are struggling to secure supplies of onions after the world's biggest exporter India restricted overseas sales amid limited availability in the global market. Onions, an essential part of the diets of millions of Asians, are likely to remain expensive and scarce for at least two months until India lifts curbs on exports, traders said. "At the moment, there is nothing we can do but to wait," said Mohammad Idris, a trader based in Dhaka, Bangladesh, where onion prices have trebled in recent months, hitting an all-time high ...

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First Published: Sat, December 02 2017. 02:16 IST