Sunday, 20 September 2020

Indian government ban onion exports

What did the Indian government ban onion exports to curb the rising prices of vegetables, especially onions, 'tears' started coming out of the eyes of neighboring countries. Onion prices have skyrocketed, especially

in Bangladesh and Nepal. Bangladesh has officially expressed its 'deep concern' over the Modi government's decision to ban onion exports without any notice. In view of this, the government there has requested to lift the ban on onion exports from India.

Onion prices rise 5 times in Nepal

On the other hand, in neighboring Nepal, onion prices have skyrocketed after the Indian government imposed a ban on exports. A few days ago, the retail price of onions sold for Rs 20-30 per kg has reached Rs 150 per kg. In many places, traders have started hoarding and black marketing. In such a situation, its price may increase further in the coming days. India is the largest producer of onions in South Asia. Nepal, Bangladesh, Sri Lanka, and Malaysia depend on Indian onions.

Bangladesh's Foreign Ministry has said in a letter to the Government of India that the decision to ban onion exports is not in line with the mutual understanding between the two countries in 2019 and 2020. The letter said that onion exports to Bangladesh should be restored immediately, given the excellent relations between the two neighboring countries. Bangladesh is the largest buyer of onions from India. The letter said that India's sudden announcement in this regard would affect the supply of essential food items in the Bangladesh market.

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