India extends indefinite ban on onion exports

Published 2024년 3월 26일

Tridge summary

India has prolonged its indefinite ban on onion exports, impacting reliant countries such as Nepal, Bangladesh, Malaysia, and Saudi Arabia. Initially set to conclude by March 31, the extension, influenced by the upcoming Lok Sabha elections, has led to lower onion prices domestically but challenges for countries dependent on Indian onions. Since the ban's initiation in December, nations like Nepal have experienced shortages, prompting increased imports from China and smuggling activities. Despite a robust production season and a surplus of onions in the Indian market, prices in areas like Kathmandu remain elevated.

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

Original content

KATHMANDU, March 26: India has unexpectedly extended its indefinite ban on onion exports, contrary to traders' expectations. The Indian government, in light of the upcoming Lok Sabha elections, issued a notice prolonging the export ban until further notice. Initially, the ban on onion exports was anticipated to be lifted by March 31, as per the previous notification. However, the recent extension has repercussions for countries like Nepal, Bangladesh, Malaysia, and Saudi Arabia, which rely on the Indian market for onion imports. If the export ban persists, it could lead to a drop in onion prices within India while affecting import-dependent markets elsewhere. According to the Indian media, in some markets of India's Maharashtra, where onions are produced a lot, the price per quintal decreased from Rs 4,500 to Rs 1,200 last December. According to market analysts, the production of onions in India is good this time, and since new onions are coming to the market at this time, there ...

Source: Nagariknetwork