India Lifts Ban on Onion Exports

India has lifted a ban on onion exports, Food Minister Ram Vilas Paswan said today, as prices of the bulb have fallen sharply in the last few weeks on expectations of a big crop.

"Since the price of onions has stabilized and there is bumper onion crop, the government has decided to lift the ban on exports of onions," Paswan said on Twitter.

Ram Vilas Paswan' Tweet

India, the world's biggest exporter of onion, banned exports of onions in September last year to keep domestic supplies intact after flooding in several states worsened seasonal shortages, leading to a spike in local prices.

Wholesale prices of onions have more than halved in the last five weeks, according to data compiled by the National Horticultural Research and Development Foundation, a government agency.

Source: Reuters