Crisis in Sri Lanka hits Indian onion exports

Published 2022년 7월 15일

Tridge summary

Since the start of an economic crisis, Sri Lanka has seen a halt in agricultural and horticultural exports from India, with suspension of trade and payment issues. Despite the economic downturn, India's export value to Sri Lanka for the 2021-22 fiscal year saw a 65% increase, reaching $5,208.3 million. The exports included key commodities such as onions, grapes, technical goods, skimmed milk powder, and sugar. The majority of these exports were shipped from Indian ports, with Sri Lanka utilizing a significant portion of the credit line authorized by the Reserve Bank of India for fuel and foodstuff imports.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

In the past three months, especially since an economic crisis erupted in Sri Lanka, Indian exporters have stopped exporting to the country. Sri Lanka is an important destination for agricultural and horticultural products such as sugar, grapes and onions. Since the economic crisis broke out, most exporters have suspended trade, although some complain that their payment has stalled. India's export account to the island nation for fiscal year 2021-22 was $5,208.3 million, up 65 percent year on year. Onions, grapes, technical goods, skimmed milk powder and sugar are the main export commodities to Sri Lanka. Given the easy connections by sea, Indian exporters usually ship their products from the ports by ship. Most of the credit line authorized by the ...

Source: Uiennieuws