Wednesday, September 21, 2011

Ban on Onion Export Lifted

The government of India, on 20-Sept-2011 bowed down before the protesting farmers in Maharashtra and lifted the ban that it had imposed on the export of onions.

The ban had been imposed on 9-Sept-2011 in a move to help curb the soaring prices of onions in the Indian market. The move faced stiff resistance from the farmers in Nashik and neighboring regions of Maharashtra.

The political impact of the roll-back on the already fragile credibility of the UPA-government is another issue, but on the economic front experts believe that the prices of onion could head north-ward in the immediate future, adding to the common man's inflationary worries.

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