Indonesia hopes to acquire 900,000 tons of onions from India amid the ban on exports. Indonesia is of course India’s largest trade partner in Asean, and imports onions mostly from the US, India and New Zealand.
The request comes after India imposed a 40% export tax on onions last August, followed by a minimum export price of $800 per ton in October, to stabilize domestic supply and prices due to a crop shortfall. Despite these measures, high prices led to a complete export ban in December, effective until the end of the 2023-24 financial year.
In April-October of the ongoing financial year, India exported 1.4 million tons of onions, including 36,146 tons to Indonesia. During the corresponding period of FY23, it exported 1.35 million tons. In FY23, India’s onion export totalled 2.5 million tons, including 116,695 tons to Indonesia, according to data from the commerce and industry ministry and exporters.
Source: livemint.com