National Cooperative Export Ltd (NCEL), the government's export agency of India has announced plans to purchase 1,650 tonnes of onions from private traders at Rs 29/kg for export to Bangladesh, The Economic Times reported.
This move marks the first official export of onions from India in over three months, following India's ban on exports from December 8 to March 31.
In the first week of March, the Centre permitted the export of 64,400 tonnes of onions to countries that had made formal requests through diplomatic channels. Of this quota, 50,000 tonnes were allocated to Bangladesh, with the remaining 14,400 tonnes going to the UAE.India's export restrictions on onions were implemented to address surging domestic prices, which had led to concerns about affordability and availability.
The ban also contributed to a spike in international prices due to reduced global supply, particularly during the peak demand period associated with Ramadan in traditional markets like Bangladesh, West Asia, and Southeast Asia.
Onion exporters highlighted the prevalence of smuggling activities, accounting for more than 50 per cent of the trade volume during normal conditions since the imposition of the export ban.
bd-pratidin/GR
.jpg?v=1722183778)
.jpg?v=1722183778)
.jpg?v=1722183778)
.jpg?v=1722183778)
