India allows onion export to Sri Lanka, gives additional quota to UAE

Published 2024년 4월 16일

Tridge summary

India has allowed a limited export of onions to the UAE and Sri Lanka, following a similar concession to Bangladesh, amidst an indefinite extension of the export ban initially set to end in March 2024. This move aims to control domestic onion prices, which have also been addressed by imposing a 40% export duty through the end of 2023 and setting a Minimum Export Price of USD 800 per tonne. Exports of 'Bangalore rose onion' remain exempt from this duty with proper certification. Additionally, the government is working to stabilize prices by releasing onions from its increased buffer stock for the 2023-24 season, indicating a strategic approach to both domestic market stability and international trade relations.

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

Original content

New Delhi [India], April 16 (ANI): India has allowed a limited quantity of onion exports to the United Arab Emirates (UAE) and Sri Lanka, at a time when the staple vegetable’s outward shipments have been kept under restrictions. In March, the centre allowed the export of 50,000 tonne onions to Bangladesh. The government has extended the ban on the export of onions until further orders. Initially, India had in early December 2023 prohibited the export of onions till March 2024. The DGFT notification said the export of onions will be, however, allowed based on permission granted by the central government to other countries based on the request made by the countries. In August, the government imposed a 40 per cent duty on the export of onions to check price rise and improve supplies in the domestic market until December 31, 2023. The central government subsequently set a Minimum Export Price (MEP) of USD 800 per tonne on a free-on-board basis for the export of onions with effect from ...

Source: Theprint