In a move to stabilize onion prices in Bangladesh, India has granted approval for the export of 50,000 tons of onions to its neighboring country by March 31. The immediate effect of this decision aims to address the demand for this essential commodity in Bangladesh.
Consumer Affairs Secretary Rohit Kumar Singh announced the decision, stating that in addition to Bangladesh, India will also export 1,200 tons of onions to Mauritius, 3,000 tons to Bahrain, and 560 tons to Bhutan. The modalities for these exports are being finalized, and traders are allowed to carry out these exports until the end of March.
The ban on onion exports from India was imposed in December last year to boost domestic supply and curb rising prices. The recent decision to allow exports to Bangladesh follows a recommendation from the External Affairs Ministry. Bangladesh Foreign Minister Dr Hasan Mahmud had requested the lifting of export bans during his visit to India, emphasizing the importance of stable prices ahead of Ramadan.
Stay tuned for further updates on this development impacting the onion trade between India and Bangladesh.
