The Government of India has extended the minimum price restriction on exports for another three months to maintain normal supply of onion in the domestic market and control prices. This decision will remain in force until March next year.
The country’s Directorate General of Foreign Trade has said that there will be a ban on onion exports until March 31 next year. India set higher export prices on October 29 due to the increase in onion prices. Although this restriction was given till 31st of this month, it was extended for another three months.
It was said in the previous instructions that onions can be exported to any country in the world. However, the minimum price of onion per ton should be kept at 800 dollars. Transport and insurance costs are not included in this price.
Importers claim that India’s restrictions will increase the price of the product in the country’s market.
Haroon ur Rashid, President of Hili Land Port Importer Group, said, ‘Onion import continued through the port at the export price of 800 USD set by the Government of India. But the Indian government has already announced stoppage of onion export till March 31. Onion traders of the country will suffer due to their stubborn decision. Similarly, the price of onion is expected to increase in the country’s market. I demand a solution by discussing the issue at the highest level of the government.
Previously, India exported onions at a price of 200 to 300 US dollars per metric ton, but on October 29, India increased the export price to 800 US dollars.