India Region

Indian Export Agency Initiates Purchase of 1,650 Tons of Onions for Exports to Bangladesh

20 March 2024, New Delhi: The National Cooperative Export Ltd (NCEL), the government’s export agency, has unveiled its plans to procure 1,650 tons of onions at Rs. 29/kg from private traders to export them to Bangladesh. This development marks the resumption of official onion exports from India after a ban was imposed from December 8 to March 31. Farmers may benefit from this move as traders kept low inventory due to the export ban.

In early March, the Indian government granted permission for the export of 64,400 tons of onions to countries that had formally requested them through diplomatic channels. Out of this allocated quota, 50,000 tons were designated for Bangladesh, while the remaining 14,400 tons were allocated to the UAE.

The imposition of export restrictions on onions in India was a response to the escalating domestic prices, to ensure affordability and availability within the country. However, this measure resulted in increased international prices, impacting regions with high demand during Ramadan, such as Bangladesh, West Asia, and Southeast Asia.

Also Read: Best Agrolife’s Patented Product ‘Defender’ to Be Available for Indian Farmers From May 2024

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