India lifts ban on onion exports but hits Pakistan!

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Mumbai, Ta. 29 December 2020, Tuesday

The impact of India's lifting of the export ban on onions was felt in Pakistan. Within an hour of India's decision, onion prices in Pakistan fell by à«« 150 per tonne to à«© 200. China's onion prices were also expected to fall.

The Indian Ministry of Commerce on Monday issued a notification lifting the ban on onion exports from January 1. The government had banned onion exports three-and-a-half months ago after the rise in onion prices in the country.

However, onion prices fell sharply after Diwali as new onion arrivals started. Nashik in Maharashtra is the main producer of onion in the country. Onion prices have come down to Rs 15-20 per kg recently.

In the export market, the price of Indian onion is expected to touch ૩૭૫ 4 to ૪ 500 per tonne. China's onion export market, which is quoted at 500, is also likely to see a decline.

"Onion prices will not go up significantly in retail given the huge domestic revenue of onions, but lifting the export ban will stop further falling prices and bring stability," said a trader.

The government's decision to lift the export ban was welcomed by onion growers in Nashik and urged them not to make any changes in the onion export policy.


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