ENA Sectors 2024-02-19 16:29:04 <p><span style="font-size:14px"><strong>New Delhi, Feb 19 (KNN)</strong> India has approved the export of onions on a government-to-government basis to specific countries, following recommendations from the Ministry of External Affairs.</span></p> <p><span style="font-size:14px">A limited amount of onion exports has been authorised for bilateral purposes. However, a decision regarding the complete lifting of the onion export ban is still pending, according to sources cited by ET.</span></p> <p><span style="font-size:14px">The government has reportedly permitted the export of onions in restricted quantities to nations such as Bangladesh, Sri Lanka, Mauritius, Bahrain, Bhutan, and Nepal.</span></p> <p><span style="font-size:14px">As the world's second-largest onion exporter, India imposed a ban on the export of this kitchen staple from December 2023 to March 2024 due to surging domestic prices and potential shortages.</span></p> <p><span style="font-size:14px">This export prohibition resulted in a spike in onion prices in neighbouring countries.</span></p> <p><span style="font-size:14px">In August 2023, amidst escalating onion prices, the finance ministry imposed a 40 per cent export duty to discourage shipments.</span></p> <p><span style="font-size:14px">However, this measure failed to achieve the desired effect due to under-invoicing. Consequently, the government established a minimum export price of USD 800 per tonne for onions starting from October 28.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 36743 https://knnindia.co.in/news/newsdetails/sectors/india-partially-lifts-onion-export-ban-for-select-countries-amidst-rising-domestic-prices 2024-02-19 16:29:04 knnindia.co.in