News

India greenlights limited onion exports to Bangladesh, 3 other countries

Fresh Onion
Vegetables
India
Regulation & Compliances
Market & Price Trends
Published Feb 23, 2024

Tridge summary

The Indian government has allowed the export of 54,760 tonnes of onion to Bangladesh, Mauritius, Bahrain, and Bhutan until the end of March, following a recommendation from the External Affairs Ministry. This decision comes despite a current ban on onion exports aimed at boosting domestic supply and controlling price rise. However, data from the Ministry of Commerce indicates that 85% of the demand is met domestically, suggesting no imminent shortage. Last year, the government permitted onion imports from nine countries to manage rising prices.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

The Indian government today (22 February) permitted traders to export a total of 54,760 tonnes of onion to Bangladesh, Mauritius, Bahrain and Bhutan till 31 March. "We have allowed export of 50,000 tonnes of onion to Bangladesh, 1,200 tonnes to Mauritius, 3,000 tonnes to Bahrain and 560 tonnes to Bhutan with immediate effect," Consumer Affairs Secretary Rohit Kumar Singh said, The Hindu reports. Traders will be allowed to export this quantity until March 31, while the modalities are still being worked out. Singh said the decision was taken following a recommendation from the External Affairs Ministry. Currently, there is a ban on onion exports until March 31. The ban was imposed on 28 December 2023 to boost the domestic supply and check price rise. The price of onions in Bangladesh nearly doubled overnight following news of India's extension of its export embargo on the essential commodity last December. In fiscal year 2023-24 (FY23), onion imports stood at 7.43 lakh tonnes, while ...
Source: TBS
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