May 25, 2024

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Ban on onion exports: supply in Bangladesh may resume, government in readiness

2 min read

A week after the ban on onion exports, supplies can now be resumed in Bangladesh. Onion prices are increasing rapidly in Bangladesh. However, the government has not taken a final decision to withdraw the ban on exports.

New Delhi. Last week, after the increase in the onion price, the central government had banned its export. However, now its supply in some neighboring countries may start once again. Bangladesh’s name is also included in this. The government has not yet taken a final decision on this, but a round of negotiations has started for this. This information has been given in a media report quoting people associated with this case.

Bangladesh prices rise after export ban from India
Onion consumption is more in Bangladesh. Onion is exported on a large scale from India. Bangladesh imports about 3.50 lakh tonnes of onions from India every year. The prices in Dhaka, Bangladesh have reached 90-100 taka only after the government banned onion export in Bangladesh. Just a day before this, onion prices were at 50 taka here.

It may be known that this year the crop has been affected due to excessive rains in onion producing states. After this, there was a rise in prices in the domestic market. After the lack of inward, the government banned onion exports on September 14 so that prices could be contained in the domestic market.

India’s onions depend on Asian countries
Most of the onion cultivation in the world is done in India only. Onion is also the most used in South Asian mines. This is why countries like Bangladesh, Nepal, Malaysia and Sri Lanka depend on Indian onions. Within a month, the wholesale price of onion in Lasalgaon, Maharashtra has reached Rs 30,000 per ton. Lasalgaon is the largest onion market in the country.

Onion is mainly produced in six states. 50 percent of onion comes from 10 mandis of India. Six of these are in Maharashtra and Karnataka. This means that 50 percent of onion prices are in the hands of a few hundred traders. These traders can influence onion prices in their own ways. Also, there is no fixed minimum support price of onion.

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