India has lifted a ban on onion exports, Food Minister Ram Vilas Paswan said on Wednesday, 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, government has decided to lift ban on export of onions," Paswan said on Twitter.
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 National Horticultural Research and Development Foundation, a government agency.
Source: moneycontrol.com