India has again extended its ban on onion exports, driving up prices in Asia and the Middle East

EastFruit analysts draw attention to another extension of the ban on onion exports, announced by the Indian government. The previous ban was introduced in December 2023 and was valid until March 31, 2024, but it was extended this time for an indefinite period. The government argued that domestic onion prices have increased by 43% over the year to about $0.3 per kg, which is considered a high price for India. For comparison, the average price for onions in Ukraine is now approximately the same, and this price is one of the lowest in recent years. With India being the world's largest onion exporter by volume, it is not surprising that the decision to extend the onion export ban has led to nervous reactions in the region's onion markets. There is real panic in the onion market in Bangladesh - where prices for this product soared after India's decision by more than 10 American cents per kg. Read also: Tajikistan has again banned the export of onions - or why are prices 7 times lower ...