look news india
Mumbai: Even though India has lifted the ban on onion exports, there is no demand for Indian onions in export centers due to the high price of onions in the country. Due to sluggish exports, domestic prices appear to be almost stable. The price of onion per kg in the local Lasalgaon wholesale market remains stable at Rs 18 to Rs 20.
India has lifted the export ban but has fixed the minimum export price at $550 per tonne and imposed an export duty of 40 per cent. An exporter said, due to this our onion is becoming costlier than Pakistan's in the world market.
Traders expected that prices would increase after exports increased, but this did not happen.
Indian onion importers are buying onions from Pakistan because Pakistani onion is cheaper than Indian onion in the export market.
Local sources said due to the export ban, India's traditional importers have already bought onions from Pakistan at higher prices, so Indian traders are not getting export enquiries.
As soon as India lifted the ban, the price of onion in the world market has fallen by fifty percent. Malaysia, Britain, Sri Lanka and UAE are the major countries buying onion from India, but currently they have onion stock from Pakistan. Sources said it will take another fortnight for the stock to be exhausted and after that the demand for Indian onion in the world market is expected to increase.