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On Monday, the Foreign Trade Department of the Indian Ministry of Commerce announced a ban on onion exports. The decision to ban the export of all kinds of onions, chopped and powdered, will take effect immediately, they said in a notification.
Following this announcement, Indian traders stopped the onion truck bound for Bangladesh at the border. They say the onion, which is now priced at £ 250 per metric ton, will launch only if it is increased to £ 650.
India stopped exporting onions in September last year due to rising domestic prices and a shortage of stocks. After that, the price of onion began to rise in the Bangladeshi market, which was sold at 250-300 rupees per kilo for 50-60 rupees.
Later, the government tried to handle the situation by importing onions of different colors and flavors from Myanmar, Pakistan, China, Egypt, Turkey and other countries. India lifted the ban on onion exports in March after new onions emerged.
“Prices have risen and there is a shortage in the domestic market,” said an Indian central government official. Despite the deficit due to the season, a large number of exports have been made in recent months due to the Kovid-19 epidemic ”.
India exported £ 298 million worth of onions in April-June 2021, compared to £ 440 million in the same period last year.
In addition to Bangladesh, several countries, including Malaysia, the United Arab Emirates, and Sri Lanka, import onions from India.
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