The Directorate General of Foreign Trade (DGFT) has authorized the export of 4,750 tonnes of onions to Bhutan, Bahrain, and Mauritius via the National Cooperative Exports Ltd (NCEL). Specifically, the allocation includes 550 tonnes to Bhutan, 3,000 tonnes to Bahrain, and 1,200 tonnes to Mauritius. This decision follows the recent approval for shipping 64,400 tonnes of onions to the UAE and Bangladesh.
Despite the general ban on onion exports to bolster domestic availability and stabilize prices, the Indian government has granted exceptions based on requests from other nations. This ban, initiated on December 8 of the previous year, is set to last until March 31, aiming to mitigate price volatility. Among measures to control prices, the imposition of a minimum export price (MEP) of USD 800 per tonne was enforced from October 28 until the end of 2023, alongside a 40% export duty up to December 31, 2023. From April 1 to August 4, 2023, India has exported 9.75 lakh tonnes of onions, with Bangladesh, Malaysia, and the UAE being the top importers in value terms.
Source: business-standard.com