Page 6 - Export Ban News Today

Driven by reports of the lifting of the export ban on the commodity, the modal wholesale onion prices shot up 40.62 per cent to Rs 1,800 per quintal on February 19 in Lasalgaon, the countrys largest wholesale onion market, from Rs 1,280 per quintal on February 17.

The government has reportedly allowed the export of onions in limited quantities to countries including Bangladesh, Sri Lanka, Mauritius, Bahrain, Bhutan, and Nepal., Economy News, Times Now

India faces onion shortage due to drop in rabi harvest. Meanwhile, export ban causes price crash, protests. Exporters suggest controlled exports amid shortage and high international prices. In a letter to the Union government, a group of leading onion exporters have cautioned the government about the consequences of allowing onion exports without adhering to a proper mechanism to control export volumes.

Export ban boon for onion dehydration units in Rajkot. Mahuva, the onion dehydration hub, is benefitting from the ban on export of fresh onions imposed by the government. The processing units in Mahuva are starting early and processing more stock compared to last year. They are hopeful of receiving good export orders and there is a rise in demand for processed onions from Gulf countries.

India banned the export of onions effective December 8 to make the essential kitchen staple cheaper for domestic consumers. This has led to a crash in the price from more than ₹40 a kg to around ₹13 currently in the wholesale market of Nashik, Indias main onion-growing region. The ban on exports by the second largest onion producer, which used to ship 40,000-50,000 tonnes of the commodity every week, caused a spike in international prices.

By connecting several less-advanced chips into one, Chinese companies could circumvent the sanctions set by the US government.

Law enforcement authorities from five countries have dismantled a suspected Dutch international smuggling network accused of violating export sanctions to Russia, seizing assets and arresting three individuals accused of running the operation, European Union Agency for Criminal Justice Cooperation (Eurojust) announced in a statement on Jan. 23.

Onion Export Ban: India plans to lift the ban on onion exports due to a significant drop in vegetable prices in the main producing regions. The ban was imposed on December 8, following domestic prices doubling in three months due to production decline. Prices have dropped by 20% to Rs 1,500 per quintal, with fresh kharif onions increasing to 15,000 quintals daily.

The Indian governments decision to ban onion exports until March 2024 resulted in a drastic 60% price decline in less than three weeks. The ban aimed to address issues like under-invoicing and wrong export policies, including the absence of a fixed floor price with the initial export duty and the subsequent removal of duty without a minimum export price.

India plans to lift the ban on onion exports due to a significant drop in vegetable prices in the main producing regions. The ban was imposed on December 8, following domestic prices doubling in three months due to production decline. Prices have dropped by 20% to Rs 1,500 per quintal, with fresh kharif onions increasing to 15,000 quintals daily.