Onion Shortage threatens the world

Onion shortages are increasing all over the world. From Morocco to the Philippines, the governments are protecting their onion supplies. Morocco, Turkey, and Kazakhstan have stopped exporting onions due to their increasing demand and soaring prices in their homeland.

Why are onion prices increasing?

Different factors contribute to the price rise and shortage of onions. First and foremost is the war in Ukraine. Following this, the other factors that contributed to the price rise are the Pakistan floods, Central Asia frosts that damaged the stockpiles, severe droughts in North Africa, and poor weather in Morocco. Of all the countries, the Philippines is facing the highest crisis. The onion prices in the Philippines have become higher than the price of a meal. This is mainly because a series of typhoons hit the country in 2022 damaging the crops.

India

With the prices of wheat falling in the market, it is now the turn of onions to contribute to food inflation in the country. However, we are well equipped and stocked to face the crisis, unlike the others according to the Food Corporation of India.

Vegetable crisis

To worsen the conditions, United Nations and the World Bank warned that the availability of carrots, potatoes, tomatoes, and apples may be hampered.

Month: Current Affairs - February, 2023

Category: Economy & Banking Current Affairs • International / World Current Affairs