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India 28/03/2024

India extends its ban on onion exports

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In December 2023, the Indian central government decided to ban onion exports until 31 March 2024. However, some exports were carried out with the permission of the central government.
 
Local media are reporting that the ban on onion exports will remain in place until further notice, according to an announcement by the Directorate General of Foreign Trade (DGFT).
 
This announcement came as a surprise to professionals in the sector, as prices have fallen sharply since the export ban and the increase in supplies from the new harvest. On the wholesale markets in the state of Maharashtra, the country's largest onion producer, prices are Rs. 1,200 (USD 14) per 100 kg, down from Rs. 4,500 (USD 54) in December.
 
Analysts believe that this new measure has been taken in the run-up to the general elections, which will take place from 19 April and last for almost 7 weeks.
 
Recently, the Indian government authorised the export of 50,000 tonnes of onions to Bangladesh and 14,400 tonnes to the United Arab Emirates.
In the financial year ending 31 March 2023, India exported 2.5 million tonnes of onions.
 
source : reuters.com, economictimes.indiatimes.com
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The ban on onion exports will remain in place until further notice, according to an announcement by the Directorate General of Foreign Trade (DGFT) (Photo: economictimes.indiatimes.com).
 
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