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India again announced a ban on onion exports

  • Financial
  • 15 September, 2020 16:27:50

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News Desk: India stopped exporting all types of onions at the same time so as not to increase prices in its own country due to deficits in heavy rains and floods.

On Monday (September 14), the Foreign Trade Department of the Indian Ministry of Commerce announced a ban on onion exports. The decision to ban the export of all types of onions, cut into pieces and powder, will take effect immediately, they said in a notification. After this announcement, Indian traders stopped the onion truck bound for Bangladesh at the border.

They say that the onion, which is now priced at 250 per metric ton, will be released only if the LC is increased to price 750. India stopped exporting onions in September last year due to rising domestic prices and shortages in stocks. After that, the price of onion started increasing in the market of Bangladesh.

Onion of 50-60 taka per kg was sold at 250-300 taka. Later, the government tried to handle the situation by importing onions of different colors and flavors from Myanmar, Pakistan, China, Egypt, Turkey and other countries.

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