The director of the Central Administration for Agricultural Crops for Orchards in the Ministry of Agriculture in Egypt, Mahmoud Atta, predicts an increase in the price of onions on the Egyptian market. The forecast comes on after an astronomical price increase that resulted in onions being sold for more than EGP 40 per kilogram. Atta believes that in one week and a half, prices will be in the region of EGP 20 for a kilo. lower than the current EGP 32.

The expected price decrease is because of two events which include the start of the onion harvest following the growing season of Upper Egypt and a crackdown in the storage of onions through the Ministry of Agriculture. In the second initiative, the thousands of tons of onion stored by traders were taken away.

Onion Imports Bangladesh

In Bangladesh the government has been taking steps to ease the import of onions in order to reduce the price increase within the local market. The prices of onions have risen to Tk 15 to $15 per kilo over one week which has forced the government to issue import permit to increase the quantity for imported onions. State-run trader’s corporation recorded an increase of 34-42% in onions prices in just the span of a week. Then, they recorded an alarming 38-69% growth in just one month.

[EGP1 equals EUR 0.03 [EGP1 = EUR 0.03

[ Tk 100 equals EUR0.84 [Tk 100 = EUR0.84

Source: bnnbreaking.com