08 August 2024, New Delhi: Bangladesh has resumed the acceptance of over 4,500 tons of onions from India’s Maharashtra and Madhya Pradesh regions. These shipments, which were previously held up at the Petrapole land port near the West Bengal border, are now crossing into Bangladesh.
This resumption follows a period of disruption caused by protests in Bangladesh, which had negatively affected cross-border trade. While exporters are now moving forward with the current shipments, they remain cautious about sending new consignments, opting to wait until the situation stabilizes further.
Despite these recent challenges, Bangladesh continues to be a significant market for Indian onions, making up 45% of India’s total onion exports, which reached 1.6 million tons in the fiscal year 2024. Following the lifting of an export ban in May, the Indian government introduced a minimum export price of $550 per ton and imposed a 40% export duty on key vegetables.
In addition to onions, India’s export lineup to Bangladesh includes commodities such as chillies, grapes, oranges, wheat, cotton, and pulses. Domestically, the Indian government has procured close to 0.46 million tons of onions at market rates for buffer stock, with a target of reaching 0.5 million tons. The current procurement price for this fiscal year is Rs.2,833 per 100 kg, reflecting a 64% increase from the previous fiscal year’s rate of Rs.1,724 per 100 kg.
(For Latest Agriculture News & Updates, follow Krishak Jagat on Google News) (+80 Million Farming Audience Visits Krishak Jagat’s Hindi Website – Click Here for Website)
