India’s Onion Exports hits 1.5 Lakh Tonnes after MEP to 400$
Onion exports from India have raised to 1.5 Lakh tonne after minimum export price restrictions on Onion Bulb was lifted on Dec 24. Onion Bulb’s Minimum export price was slashed from 700$ per tonne to 400$ per tonne due to increase in crop production.
Due to fall in production of onion crop by the major onion producing state Maharashtra which has been hit by drought between 2014-2015, Onion production saw a deep fall in the year 2014-2015. It fell from the production of 194.02 Lakh tonne in 2013-2014 to 189.23 Lakh Tonne in 2014-2015. India banned onion exporters in India to export onion to control the hike in Retail price of onion bulbs in the internal market as it rose to 90 to 100 per kg in major metros.
The minimum export price of 700$ per tonne in august 2015 has led ways to lose onion export markets of India like Far East, Middle East & Sri Lanka because of the higher price quoted by onion exporters in India. Our traditional rivals Pakistan, Egypt & china took advantage of the price situation.
As the minimum export price of 700$ being slashed, India has put the onion exports in India back to competitive price throttle with other traditional onion exports competitors even though India’s MEP of 400$ is still less competent to Pakistan’s 250$-300$.
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