Following India’s announcement that the export ban would be lifted, onion prices in the UAE are predicted to decline in the upcoming weeks. The UAE’s vendors hope India’s move will lessen the market’s shortage of goods.
Since India placed export restrictions on onions last year, the local hypermarkets have been selling them for more than Dh6 per kg. Prices had increased to Dh9 per kg but lowered to Dh6 when India allowed exports to the United Arab Emirates.
Before India’s export restrictions, onions were typically sold for Dh3–Dh4 per kg. During the weekend sales, a few hypermarkets and large supermarkets would even lower the price by up to Dh2 per kilogram.
India imposed a ban on onion exports in December that was later extended until further notice, with a March 31, 2024 deadline. On the other hand, New Delhi granted exports to certain nations upon their request. Subsequently, the Indian government removed the ban, albeit with a $550 minimum export price instead of the $800 minimum it had late last year.
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