In recent months, Pakistan has experienced a significant increase in onion exports, a development attributed to an export ban by India. India, a leading global onion exporter, halted its onion exports due to a reduction in domestic production, creating a void in the international market that Pakistan capitalized on.
Between December and March, Pakistan exported over 220,000 tons of onions, surpassing its typical annual export figures. The All Pakistan Fruit and Vegetable Exporters, Importers and Merchants Association (PFVA) highlighted the strategic response to India's ban as a key factor in this export boost, leading to over $200 million in revenue. Despite eventual restrictions imposed by the Pakistani government to stabilize domestic prices, ongoing exports are projected to generate an additional $50 million by the fiscal year's end in June.
This export achievement comes at a time when Pakistan's economy faces significant challenges, with the export revenue contributing to the recovery of the country's foreign exchange reserves. However, the surge in exports has also led to a temporary domestic shortage and price increase of onions in Pakistan.
Source: aljazeera.com