In a further bad news for those who like onions, the price of onions may shoot up by another 10-15 per cent after a brief respite. This is the consequence of Turkey deciding to halt the export of the kitchen staple from its shores.
Since the price of onions zoomed earlier, Turkey and Egypt have been two key import destinations for India. Wholesalers in India are now expected to feel the pinch after Turkey’s decision. It may be remembered that traders have been relying heavily on these two countries along with China for the sake of procuring onions.
According to a provisional data, India imported 7,070 tonnes of onion this fiscal. Of this, 50 per cent came from Turkey, it is understood. However, the price of onions in Turkey soared as a result of the rise in export of the bulb from the country.
According to the data provided by the Ministry of Agriculture, the area of land under onion cultivation has increased from 2.31 lakh hectares last season to 2.78 lakh hectares by November-end. This is primarily because onions fetching a good rate in the markets attracting more and more farmers to ditch other rabi crop for onions.