Onion prices quintuple in Iran

Financial Tribune – The retail price of onions in the month ending April 20 increased by 459.5% compared with the same period of last year.

A kilogram of onions was sold at 110,872 rials (77 cents) to register the highest year-on-year price rise for a food item during the month, the Statistical Center of Iran reported.

In the first Iranian month (March 21-April 20), prices of onions posted an increase of 143.3% compared with the previous month

In a bid to contain runaway prices of onion, the Ministry of Industries, Mining and Trade banned the export of onions as of April 4, in a directive sent to the Islamic Republic of Iran’s Customs Administration.