India may lift ban on onion exports amid collapse in onion prices
Fresh Onion
Vegetables
India
Regulation & Compliances
Market & Price Trends
Published Jan 24, 2024
Tridge summary
The Indian government is reportedly contemplating lifting the ban on onion exports earlier than its current end date in March 2024, due to a significant drop in domestic prices. This comes after a successful onion harvest. However, the falling prices have led to unrest among farmers and traders, with experts warning of a potential collapse in onion prices. India is the largest global exporter of onions, mainly to Asian and Middle Eastern countries.
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
According to EastFruit analysts, the Indian government is actively discussing the possibility of lifting the ban on onion exports against the backdrop of rapidly declining domestic prices for this type of vegetable. At the moment, the ban on onion exports in India is in effect until March 31, 2024. However, against the backdrop of the onion harvest that has begun and the continuing trend of falling prices, many market participants do not rule out that this ban may be lifted in the near future. Prices for onions in the domestic market have already fallen by more than half since the ban was introduced, which is causing serious dissatisfaction among farmers and traders, given the arrival of a new crop of onions on the market. The situation, according to experts, is becoming threatening and could lead to a collapse in onion prices. Read also: Onion prices in the Philippines are back in the world news Let us remember that India is the world's largest exporter of onions. Every year this ...
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