The Indian government has lifted the onion export ban, which was in effect since December 8, 2023. This was reported by Economic Times Referring to a message from the Directorate General of Foreign Trade of the Republic (DGFT).
At the same time, the regulator set the minimum export price for onions at $550 per metric tonne.
Traders estimate that India accounts for more than half of onion imports to Asian countries. Moreover, delivery times from this country are much shorter than from China or Egypt.
Before reportedIt was stated that India supplied a record $36 million worth of smartphones to Russia in February, which is 12 times higher than the same period last year. As a result, this category of goods has become the main category of India’s exports to the Russian Federation.
Previously Russia taken One third of India’s fertilizer market.
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Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.