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March 24, 2024
News Desk ::The Indian government issued an order late on Friday that the ban will remain in place until further notice.
“The extension is surprising and completely unnecessary, considering the falling prices with rising supplies from the new season crop,” said an executive at a Mumbai-based export firm, who declined to be identified.
Countries such as Bangladesh, Malaysia, Nepal and the United Arab Emirates rely on imports from India to fill domestic gaps in onion supply and many of those nations have struggled with high prices since the ban.
Imposed by India – the world’s biggest exporter of the vegetable – in December, the ban was due to expire on March 31. Traders had anticipated it would be lifted as local prices have more than halved since the export restrictions were implemented and this season’s crop is yielding fresh supplies.
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