India, World Largest Onion Exporter, Imposed a Ban on Onion Exports.
India has Imposed a Ban on Onion Exports in Country Till Next Year General Elections, which has Increased Demand & Prices of Onion in Asian Countries.
According to sources, India, the largest onion exporter in the world, banned the export of onions on December 8.
As local onion prices have doubled in the last three months due to shortfall in production.
Now the countries buying onions from India from Nepal to Bangladesh and from Malaysia to Sri Lanka are facing difficulties in getting onions.
Because after the ban by India, now they have to buy goods at expensive prices.
We need onions for more or less every meal, said Masoumi Akhtar, who works in the private sector in Bangladesh’s capital, Dhaka.
And sudden increase in onion prices is becoming difficult to digest, that’s why I am using less onion now.
According to traders’ estimates, more than half of the total exports to Asian countries are done by India.
And according to the fiscal year ended on March 31, India exported 25 lakh metric tons of onion, of which only 671 thousand metric tons were given to Bangladesh.
Bangladeshi Ministry:
According to an official of the Bangladeshi Ministry of Commerce, we are trying to procure onions from China, Egypt and Turkey to overcome this shortage.
Nepal is in a worse situation than Bangladesh, which buys most of its onions from India and has also started turning to China for onions.
According to the sources, now after the ban by India, these countries have been forced to buy onions at high prices from Pakistan, Turkey, Iran and China.
Because these countries have also increased the price of onion as soon as the news of the ban spread.
Traders say that since this ban, onion has become cheaper in India by 20%.
But if this ban continues for a long time, there will be a huge shortage of onions in other Asian countries.
As a result of this ban, onion prices have doubled in Sri Lanka, which is suffering from a financial crisis, while prices have also increased in Malaysia over the past week.
But this ban on onion exports is unlikely to be lifted before the general elections in India.
Because Prime Minister Narendra Modi’s priority is to reduce the prices of food items at the local level before the election and he has issued special instructions in this regard.
In all this situation, there is a fear of increase in onion prices in Pakistan as well.
Because if large quantity of onion is exported from Pakistan then there will be shortage of onions which are already sold at high prices which may further increase the price.
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