look news india
The government has taken a big decision amid the possibility of lifting the ban on exports due to the fall in onion prices. Traders were hoping that the ban on onion exports would be lifted as onion prices in the local markets have almost halved since the export ban was imposed and supplies of this season's crop began, but the Government of India in the Lok Sabha Earlier the ban on export of onion has been extended indefinitely. The government had imposed a ban on onion exports in December 2023, which was scheduled to end on March 31.
In December, the price of onion in some wholesale markets of Maharashtra was Rs 4500 per 100 kg, which has now come down to Rs 1200 per 100 kg, but the government has issued an order that the ban on export of onion will continue till further orders. An order in this regard has been issued by the Directorate General of Foreign Trade. DGFT comes under the Ministry of Commerce and looks after import-export related issues.
According to Reuters report, after the decline in domestic production, countries like Bangladesh, Malaysia, Nepal and United Arab Emirates are dependent on imports from India for onion supply. After India's ban on onion exports, many of these countries are struggling with high onion prices.
Onion production is expected to decrease in the financial year 2023-24. According to a statement from the Agriculture Ministry, “Onion production in 2023-24 is expected to be around 254.73 lakh tonnes. Last year the total production was about 302.08 lakh tonnes. The total production is likely to decrease by 34.31 lakh tonnes in Maharashtra, 9.95 lakh tonnes in Karnataka, 3.54 lakh tonnes in Andhra Pradesh and 3.12 lakh tonnes in Rajasthan. According to the data, onion production in the financial year 2021 was 316.87 lakh tonnes. -22.