Thursday, June 24

Govt lifts ban on onion exports as prices plunge

Govt lifts ban on onion exports as prices plunge

MUMBAI: The governing administration on Monday decided to lift ban on onion exports from January 1, as charges have fallen sharply in the previous several months on anticipations of a massive crop.
Exports of all types of onion will be allowed, the ministry of commerce and industry reported in a notification.
The Centre experienced banned export of onions in September to preserve domestic provides after flooding in various states worsened seasonal shortages, primary to a spike in nearby prices.
India is the world’s biggest exporter of onions, a staple of South Asian cooking. Countries these types of as Bangladesh, Nepal, Malaysia and Sri Lanka rely on Indian shipments.
Wholesale costs of onions have a lot more than halved in the last four months, according to facts compiled by the National Horticultural Investigation and Progress Basis, a governing administration company.

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