India has lifted a ban on onion exports to “offload huge stocks” and get a better price in the international market, cheering local farmers. The committee of ministers headed by Union Home Minister Amit Shah on Sunday approved the export of 50,000 tonnes of onions to Bangladesh on top of 300,000 tonnes to other countries, the local media reported. One of the reasons for lifting the ban is said to be huge onion stocks in Gujarat and Maharashtra, the Hindustan Times said, citing experts. India imposed the ban in December to keep prices under control after drought and bad weather hit production. The ban, which was to be effective until Mar 31, sent prices higher in Bangladesh because the country depends partly on supply from India.

Source: bd News24 February 19, 2024 16:15 UTC