Business & Investment

India lifts onion export ban as prices plummet

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Mumbai-India decided on Monday to lift the onion export ban from January 1. This is because prices have plummeted in the last few weeks due to the expected large yields.

The Ministry of Commerce and Industry said in a notice that all types of onions would be allowed to be exported.

India banned onion exports in September to maintain domestic supply after floods in several states, exacerbating seasonal shortages and leading to soaring local prices.

India is the world’s largest exporter of onions, a staple of South Asian cuisine. Countries such as Bangladesh, Nepal, Malaysia and Sri Lanka rely on India’s shipments.

Wholesale prices for onions have halved in the last four weeks, according to data compiled by the government agency, the National Horticultural Research and Development Foundation. — Reuters



India lifts onion export ban as prices plummet

https://www.bworldonline.com/india-lifts-ban-on-onion-exports-as-prices-plunge/ India lifts onion export ban as prices plummet

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