India has begun issuing export licences for the Bangalore Rose and Krishnapuram varieties of onions, which were previously banned from export to help rein in soaring prices for the commodity.
Earlier in the year onions doubled in price because of a shortage of supply, causing the government to undertake a number of measures, including banning exports of the commodity.
An Empowered Group of Ministers led by Finance Minister Pranab Mukherjee, has allowed exports of the two varieties, which are consumed less in India, stated India Report.
According to another report, onion traders at wholesale markets in Nasik in Maharashtra went on strike on Friday to protest the government's ban on exports, after prices were reported to have crashed to just Rs4 (US$0.09) per kg.
Onions are still fetching Rs25-30 per kg in retail markets though, according to the report.
