Wednesday, June 03, 2020, 10:02:58 AM

India bans onion exports with immediate effect

Business Desk | banglanews24.com
Update: 2019-09-29 7:11:19 PM
India bans onion exports with immediate effect

DHAKA: India has prohibited exports of onions in the wake of its rising prices in the country.

The commerce and industry ministry on Sunday amended the export policy of onion from free to prohibited. India exported fresh and chilled onions worth $496.82 million in 2018-19.

“Export of all varieties of onions, as described above, is prohibited with immediate effect,” the Directorate General of Foreign Trade said in a notification on Sunday.

A fortnight ago, the government had set the minimum export price (MEP) of onion at $850 a tonne to curb its shipments and help bring down soaring prices in the domestic market due to floods in parts of major growing states of Maharashtra and Karnataka.

Bangladesh, Sri Lanka and UAE are the top three destinations for Indian onions. 

Source: The Economic Times

BDST: 1702 HRS, SEP 29, 2019
RS 


 

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