: India Prohibits export of all varieties of onion #FinanceIndia #StockMarketNEWS India Prohibits export of all varieties of onion New Delhi, 15 Sept (KNN) The Union Government on Monday banned the

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India Prohibits export of all varieties of onion #FinanceIndia #StockMarketNEWS
India Prohibits export of all varieties of onion New Delhi, 15 Sept (KNN) The Union Government on Monday banned the export of all varieties of onions with immediate effect, a move aimed at increasing availability and checking price of the commodity in the domestic market.

"The export of all varieties of onions is prohibited with immediate effect," the Directorate General of Foreign Trade (DGFT) said in a notification. The DGFT, an arm of the commerce ministry, deals with exports and imports-related issues.

The ban includes Bangalore rose onions and Krishnapuram onions.

The provisions under transitional arrangement shall not be applicable under this notification.

The decision comes at a time the prices of onions in domestic retail markets are soaring due to a shortage of supply.

Bangladesh, Malaysia, UAE and Sri Lanka are the top importers of Indian onions.

Maharashtra, Karnataka, Madhya Pradesh, Bihar and Gujarat are major onion producing states. 40 per cent of the country’s total onion crop is produced in the Kharif season and the rest during the rabi season. The Kharif crop, however, cannot be stored.

The Indian government had similarly banned the export of onions in September 2019 to bring down onion prices due to disruptions in onion supply after floods in certain states. The Government lifted the curbs after almost five months in March 2020 after the arrival of the Rabi crop made up for the shortage in onion supply caused by the flood-hit Kharif crop.