India's Onion Export Ban Continues Indefinitely.!!
The government of india has made a significant decision ahead of the lok sabha elections by extending the ban on onion exports indefinitely. Initially set to expire on march 31, the ban has now been prolonged, sparking concerns over potential spikes in onion prices in foreign markets. india, being the largest exporter of onions, has imposed this ban to prevent any surge in onion prices domestically during the upcoming elections.
Exporting companies have criticized the decision, citing ample supply and reduced prices as reasons to lift the export ban. Wholesale onion prices in Maharashtra, for instance, have plummeted to Rs 1200 per quintal from the previous high of Rs 4500 per quintal in December. Countries like Bangladesh, Malaysia, Nepal, and the United Arab Emirates heavily rely on indian onions, making the export restriction a matter of concern for these nations.
Exporting companies have criticized the decision, citing ample supply and reduced prices as reasons to lift the export ban. Wholesale onion prices in Maharashtra, for instance, have plummeted to Rs 1200 per quintal from the previous high of Rs 4500 per quintal in December. Countries like Bangladesh, Malaysia, Nepal, and the United Arab Emirates heavily rely on indian onions, making the export restriction a matter of concern for these nations.