India has extended its ban on onion exports indefinitely, and now is the time to export domestically produced onions

Published 2024년 4월 2일

Tridge summary

India's recent decision to halt onion exports has led to a sharp rise in international onion prices, particularly affecting the Asian market where prices have escalated to 140 rupees per kilogram. This has triggered an increase in smuggling activities, with illegal exports estimated at 700-800 tons in the last week alone. The export ban has notably impacted countries like Bangladesh, Malaysia, and the UAE, causing significant market price fluctuations. In response to the crisis, Pakistan has imposed a temporary export ban to stabilize its local market, while Southeast Asian countries are focusing on expanding their onion cultivation. These nations aim to decrease their reliance on imports by boosting local production through various agricultural initiatives.

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

Original content

As the world's largest onion exporter, India's suspension of exports has caused onion prices to rise wildly in the international market, especially in the Asian market. The price of Indian onions by international market traders has risen to 140 rupees/kg. The huge price difference has attracted a large number of smugglers. According to statistics, India's onion prices per The illegal export volume of onions last week reached 700-800 tons. Smuggling a container of onions (28-30 tons) can make a profit of 300,000 rupees (equivalent to about 25,900 yuan). The main exporting countries of Indian onions are Bangladesh, Malaysia, and the United Arab Emirates. , Sri Lanka, Nepal, Indonesia, Qatar, Vietnam, Oman, Singapore, Kuwait and Saudi Arabia. Onion prices in these markets are expected to strengthen, and Chinese onions are likely to take advantage of this opportunity to expand their international share. As the largest importer of onions from India, shortly after the news of the ban ...

Source: Foodmate