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Onion exports resume in Egypt
Egypt
Monday 08 April 2024
FJ
The Ministries of Agriculture, Trade and Industry have lifted the ban on onion exports. Data to the end of March showed a sufficient surplus of onions in the country's agricultural reserves, and the new harvest looks set to be abundant (Photo: egyptianstreets.com).
To control soaring onion prices on the domestic market, the Egyptian government decided to ban onion exports from October 1, 2023. Initially lasting 3 months, the ban was extended until March 30, 2024.
Local media report that the Ministries of Agriculture, Trade and Industry have lifted the ban on onion exports. Data to the end of March showed a sufficient surplus of onions in the country's agricultural reserves, and the new harvest looks set to be abundant.
On the Egyptian domestic market, onion prices fell by around 62% in Q1 2024, to EGP 15,000 per tonne (USD 314.50), compared with EGP 40,000 per tonne (USD 838.66) in Q4 2023.
source : zawya.com, scenenow.com
