India has permitted an additional export of 10,000 tons of onions to the UAE, aiming to stabilize prices ahead of Eid al-Fitr, a period marked by heightened demand for consumables, including vegetables and spices.
The decision is expected to impact onion prices in the UAE, which have recently surged to over Dh7 per kilogram, contrasting with the usual retail range of Dh2 to Dh3 and promotional prices as low as Dh1. The export, facilitated through the National Cooperative Exports Ltd (NCEL) under the guidance of the Director General of Foreign Trade, Ministry of Commerce and Trade, India, adds to the previously shipped 14,400 tons last month.
This move follows a temporary export ban due to domestic price increases and coincides with the Comprehensive Economic Partnership Agreement (Cepa) between India and the UAE, aimed at enhancing bilateral trade.