Production Trends
| Top Ten Onions (dry) Producers — 2010 (metric tons) |
|
|---|---|
| China | 20,507,759 |
| India | 13,372,100 |
| United States | 3,320,870 |
| Egypt | 2,208,080 |
| Iran | 1,922,970 |
| Turkey | 1,900,000 |
| Pakistan | 1,701,100 |
| Brazil | 1,556,000 |
| Russia | 1,536,300 |
| Republic of Korea | 1,411,650 |
| World Total | 74,250,809 |
| Source: UN Food & Agriculture Organisation (FAO) | |
The Onion Futures Act, passed in 1958, bans the trading of futures contracts on onions in the United States, after farmers complained about alleged market manipulation by Sam Seigel and Vincent Kosuga at the Chicago Mercantile Exchange. It provides economists with a unique case study in the effects of futures trading on agricultural prices. It remains in effect as of 2012.
Read more about this topic: Onion
Famous quotes containing the words production and/or trends:
“The growing of food and the growing of children are both vital to the family’s survival.... Who would dare make the judgment that holding your youngest baby on your lap is less important than weeding a few more yards in the maize field? Yet this is the judgment our society makes constantly. Production of autos, canned soup, advertising copy is important. Housework—cleaning, feeding, and caring—is unimportant.”
—Debbie Taylor (20th century)
“Power-worship blurs political judgement because it leads, almost unavoidably, to the belief that present trends will continue. Whoever is winning at the moment will always seem to be invincible.”
—George Orwell (1903–1950)