India Puts Export on Hold Until 2024 In a bid to curb inflation ahead of the 2024 Lok Sabha elections, the Center has imposed a ban on onion exports till March 2024. The Director General of Foreign Trade (DGFT) issued a notification to this effect on Thursday. According to the notification, the onion export policy has been changed from free to prohibited. The ban will take effect on Friday, but onion exports will be allowed subject to three conditions.

India Puts Export on Hold Until 2024 Furthermore, he may export a consignment of onions if any of the three conditions are met: If the loading of onions onto a ship has commenced prior to this notification; ii. If the shipping bill has been submitted and the vessel has already berthed or arrived at a port in India and is berthed for loading onions and has been assigned a rotation number prior to this notification. Approval for loading of such vessels will be granted only after concerned port authority confirms berthing/berthing of vessels for onion loading prior to notification. and iii. If before this notification the onion consignment has been handed over to Customs and registered in its system / If before this notification the onion consignment has entered Customs for export and the electronic If the system has verifiable evidence of date and time stamps on these items that entered customs prior to issuance of this notification. The export period should last until January 5, 2024,” the statement said.

Onion Restriction
Workers sort onions at a wholesale market in Amritsar. (Photo by Getty Images)

It is further stated that “export of onions shall be permitted on the basis of permission granted by the Government of India to other countries on application by the Government of India.” His average daily price of onions across India was he Rs 57.11. Thursday’s per kg increase was 97.95 percent higher than a year ago.

On Thursday, the Center issued a directive to all sugar mills and distilleries to avoid using sugarcane juice and sugar syrup in ethanol production during the Ethanol Supply Year (ESY) 2023-24 (November-December). I requested it immediately.