India to lift onion export ban this month

The Indian government is going to lift its ban on onion export on 15 March, Indian commerce and industry minister Piyush Goyal said Monday, reports news agency UNB.

“Paving the way for economic empowerment of farmers, government will allow export of onions from 15 March,” he tweeted.

He termed the decision as a welcome step towards the welfare of domestic producers and also ensuring additional revenue for them.

The Indian government had imposed the ban on onion exports on 29 September last year for improving their domestic availability.

After more than five months, the government decided to lift the ban to ensure that the Indian farmers get better prices for their Rabi onions which are expected to arrive in the market in huge quantities this month.

Onion prices jumped by 557.8 per cent in Bangladesh only two months after India had banned its export on 29 September last year. Each kg of the bulb cost about Tk 30 before the ban.

Reports of India’s decision to lift the ban pushed down prices of the bulb by up to Tk 30 in Bangladesh.