India partially allowed the export of onions

India has sanctioned onion exports on a Government-to-Government (G2G) basis to certain countries, albeit in limited quantities. Among the recipient countries are Bangladesh, Sri Lanka, Mauritius, Bahrain, Bhutan and Nepal. This is reported by Timesnownews. India, the world's second-largest onion exporter, has imposed a ban on onion exports from December 2023 to March 2024 to moderate rising domestic prices and prevent shortages. This export ban catalyzed a sharp rise in onion prices in neighboring countries. In response to price escalation, the Ministry of Finance imposed a 40% export duty in August 2023, followed by a minimum export price of $800/t from October 28 due to persistent under-invoicing issues. The ban on exports was a response to severe weather conditions that damaged crops in key areas, leading to a significant reduction in onion supply during the peak season and ...