Traders in India have reported discrepancies in the pricing of onions exported to the United Arab Emirates (UAE), highlighting a significant difference between the purchase price from Indian farmers and the retail price in the UAE. Despite international high prices, onions from India have been sold at lower rates to UAE importers, enabling substantial profits at the expense of Indian agricultural stakeholders.
This situation arises amidst India's export ban, initiated in December 2023 due to a domestic shortfall, with a prior 40% export levy failing to stabilize soaring local prices. Nonetheless, India facilitated the export of 14,400 tons of onions to the UAE, responding to diplomatic engagements, alongside allocations to other nations such as Bangladesh, Bhutan, Bahrain, and Mauritius. The global onion market has experienced price surges, partly due to export restrictions from other countries like Pakistan and Egypt, while Indian exports were transacted at notably lower rates.
[ ₹100 = €1.10 ]
Source: hindustantimes.com