The government might allow the export of onions again because the prices of onions have gone down a lot in places where they are grown. India stopped exporting onions on December 8 to keep the prices from rising too much within the country. The prices had doubled in just three months, so the government put a complete ban on exporting onions until March 31, 2024.

Now, sources say that the prices have dropped by about 20% to Rs 1,500 per quintal from Rs 1,870 recently because more onions are available. Since the export ban, the prices in the main market in Lasalgaon, Maharashtra, have fallen by 60%. They're getting 15,000 quintals of kharif onions per day.

Back on December 5, the onion prices in Lasalgaon were at their highest for the year, Rs 4,000 per quintal. But after the ban was announced, the prices started to drop.

The sudden ban on exporting onions caused protests at onion markets in Gujarat and Maharashtra. Farmers in Nashik, the biggest onion-growing district in India, decided to stop selling their onions from January 1, 2024, because the prices had suddenly dropped.

Countries like Bangladesh, Malaysia, and Nepal usually buy onions from India, and they felt the impact of the export ban. This caused prices to rise and shortages of onions in Nepal and other parts of Asia.

Russia's Oil Exports Plummet in 2023, Shifting Focus to Asian Markets

India Imposes Definitive Anti-Dumping Duty on Chinese Gypsum Board and Tiles