In light of the sharp decline in domestic prices for onions, analysts report that the Indian Government is actively exploring the possibility of lifting the export ban. 

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Onion Export Policy 

Currently, India's export prohibition on onions is in place through March 31, 2024. Given the onset of the onion harvest and the ongoing downward price trend, many market participants do not completely rule out the possibility that this ban will be lifted soon. 

Considering that a new crop of onions has entered the market, the prices of onions in the domestic market have already dropped by more than half since the ban was implemented, much to the dismay of farmers and traders. According to experts, the situation is deteriorating and may result in a collapse in onion prices. 

Recall that the world's largest exporter of onions is India. This nation exports between 1.5 and 2.2 million tons of fresh onions annually. It should be mentioned, though, that India does not directly compete with onions from Europe and Central Asia because it exports mostly red onion varieties. 

The UAE, Qatar, Oman, Kuwait, and other Middle Eastern nations, along with Asian nations like Bangladesh, Malaysia, Sri Lanka, Nepal, and Indonesia, are the primary purchasers of onions from India.  Prices for this product have significantly increased in the markets of major onion buyers from this country as a result of restrictions on onion exports from India and the subsequent ban. China capitalized on the circumstance, earning handsomely from the absence of its principal rival. 

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