Competitors have taken advantage of export ban

Tepid demand for Indian onions in global market

Although India’s federal government lifted the ban on onion exports that was imposed on September 14, current demand for the product from importers is limited as competing nations have taken advantage of India's absence from the global market.

Madran Prakash, Director of Chennai-based Agricultural produce exporting firm Rajathi Group: “Countries that buy from India are now having surplus supply. Competitors such as Turkey, Egypt, and Holland have cashed in. The market was good ten days ago, just before the government announced the lifting of the export ban. Since then, prices have dropped in the global market.”

“The export ban was lifted only from January 1. Hardly a week has got over. The trade, which ties up with importers, has not been able to supply during the last 3-4 months,” said Dr PK Gupta, Acting Director, National Horticultural Research and Development Foundation (NHRDF), Nashik.

Sri Lanka, one of the main buyers of Indian onion, has 700-plus containers with onion from these countries. In the Philippines, about 2,000 containers have landed, Prakash said.

Nashik District Onion Traders Association chairman Sohanlal Bhandari said that enquiries were being made for exports. Trade sources said that India’s absence from the global onion market saw even those not connected with the commodity turn to importers abroad.

Source: moneycontrol.com

 

Photo source: Dreamstime.com


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