Connect with us

Hi, what are you looking for?

Economy

India lifts ban on onion exports as prices plunge

MUMBAI – India decided on Monday to lift a ban on onion exports from Jan. 1, as prices have fallen sharply in the last few weeks on expectations of a big crop.

Exports of all varieties of onion will be allowed, the Ministry of Commerce and Industry said in a notification.

India banned exports of onions in September to preserve domestic supplies after flooding in several states worsened seasonal shortages, leading to a spike in local prices.

India is the world’s biggest exporter of onions, a staple of South Asian cooking. Countries such as Bangladesh, Nepal, Malaysia and Sri Lanka rely on Indian shipments.

Wholesale prices of onions have more than halved in the last four weeks, according to data compiled by the National Horticultural Research and Development Foundation, a government agency. — REUTERS

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

Economy

Globe Telecom, Inc. said on Friday that it had inked loan facilities with BDO Unibank, Inc. and Land Bank of the Philippines for P10...

Economy

Metro Pacific Investments Corp. (MPIC) announced on Friday that its president and chief executive officer, Jose Ma. K. Lim, will be retiring effective Dec....

Economy

REAL ESTATE developer Arthaland Corp. raised P3 billion from its Series D preferred share offering, according to the Philippine Stock Exchange, Inc. (PSE) said...

Economy

Venture capital firm Kickstart Ventures, Inc. on Friday said the Ayala group had invested in SlashNext, a company that combats phishing attacks. Kickstart manages...

Economy

Volunteerism has been a key part of Globe’s corporate culture through its various employee engagement programs. In contributing to nation-building, the company is encouraging...

Investing

The UK Government’s Flexible Working Taskforce has published practical guidance for employers designed to support hybrid working models, in a bid to help organisations...

You May Also Like

Investing

Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...

Economy

Ivermectin, an existing drug against parasites including head lice, has had a checkered history when it comes to treating COVID-19. The bulk of studies...

Investing

As a traditionally rigid insurance industry becomes bogged down by antiquated processes and operations, a handful of industry leaders are seeking to shake things...

Investing

Insomnia is the most common sleep disorder in the global population. Therefore, it is a problem that many people suffer or have suffered throughout...

Disclaimer: SmartRetirementReport.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.