Following India’s export ban announcement of a restriction on exports till March of next year in an effort to control local prices, the UAE is seeing an exponential surge in onion prices. Executives in the nation’s retail sector said they are searching for alternate sources of the good since prices have increased six times to keep up with demand.
The impact on onion exports has been acknowledged by Ashok Tulsiani, group FMCG director at Al Safeer, who also noted that retail prices had increased by “at least six times.”
Although Turkey, Iran, and China are viable options, Indian onions remain the best and are preferred by most clients in terms of quantity, quality, and cost. The demand for Indian onions cannot be entirely justified by any other nation,” Tulsiani told Khaleej Times in a statement.
After onion prices in New Delhi increased to Rs70–80 per kg, the Indian Directorate General of Foreign Trade (DGFT) changed the export policy for onions “from free to prohibited till March 31, 2024.”
India is a significant exporter of onions to the Gulf and other neighboring countries, and as a result of New Delhi’s prohibition, the price of onions has increased in those nations as well.
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