In the first 10 months of FY2023-24, Pakistan achieved onion exports amounting to $210 million, as reported by local media. The All Pakistan Fruit and Vegetable Exporters Association anticipates this figure to escalate to $250 million by the closure of FY24. Despite the flourishing export figures, the local populace has been subjected to elevated prices for onions, a fundamental kitchen staple. An association representative attributed the price hike to market dynamics rather than the export activity itself, noting a discrepancy between wholesale and retail prices.
Overall vegetable exports during this period reached 1.044 million tons, generating $371 million in revenue, marking an increase in the average price per ton from $233 to $354, attributed to stable currency rates. Onions constituted a significant portion of these exports, alongside potatoes and other vegetables.
The export landscape was also influenced by the import of onions from Iran and Afghanistan and the exploitation of an Indian export ban by Pakistani exporters. Despite efforts to regulate the market, including setting a minimum export price for onions at $1,200 per ton in January 2024, domestic prices have remained high, benefiting exporters significantly. Pakistani onions have found their way to various international markets, notably in the Far East, with potential growth hinging on resolving trade issues with countries such as Indonesia, the Philippines, and Thailand.
Source: propakistani.pk