India banned the export of onions after excessive rainfall damaged crops and reduced harvest, which sent prices soaring at a time when slowing consumer demand has dragged down growth in Asia's third-largest economy.

The ban took effect on Sunday and will last "till further orders," according to a government notice. Several media reports said prices of onions — a common ingredient in Indian cooking — have doubled since July.

India is one of the top exporters of onions globally. During the 2018 calendar year, the country sold 2.2 billion kilograms — worth around $514.3 million — of fresh and chilled onions overseas, according to official trade data. But onion exports accounted for just 0.16% of the country's overall exports last year, the data showed.

Still, the export ban is not the only move that Indian authorities have taken to tame soaring prices given the importance of the vegetable to domestic consumers.

The government has tried to bring down domestic prices by releasing supplies from its national buffer stocks. It also set a minimum export price on onion shipments earlier in September at a level it had hoped would discourage foreign buyers. The government also withdrew an export incentive in June.