India has given a special gift to the Islamic country United Arab Emirates (UAE) in Ramadan.
The consignment of onion exported from India to UAE has been increased.
India has now allowed the UAE to export 10,000 tonnes of onions, which will reduce onion prices in the Islamic country in the coming days.
According to Khaleej Times report, this announcement has been made just a few days before Eid-ul-Fitr next week.
The demand for consumable items like onion, other vegetables and spices had increased significantly in the Islamic country during the month of Ramadan. Due to increase in demand, an increase in their prices was also seen.
Onion prices had increased in UAE
Onion prices in UAE have increased significantly recently. In recent times, onion which used to be sold at two to three dirhams per kg, has reached more than seven dirhams per kg due to inflation.
The Director General of Foreign Trade said the recently announced export of 10,000 tonnes of onions to UAE will be done through National Cooperative Exports Limited (NCEL), a body working under the Ministry of Commerce and Trade in India.
India had earlier stopped exporting
This 10,000 tonnes is in addition to the 14,400 tonnes shipped to the UAE last month. Earlier, India had approved shipping of 79,150 tonnes of exports to some countries.
India, one of the world’s largest onion exporters, has banned onion exports due to the increase in domestic markets.
Onion prices will stabilize in UAE
Kamal Wachani, group director and partner of Al Maya Group, said this is a very positive for consumers, as it will stabilize onion prices in the UAE. “Consumers in the UAE prefer Indian onions for their excellent quality and taste,” he said.
The increase in onion exports comes in the wake of the signing of the Comprehensive Economic Partnership Agreement (CEPA) between the two countries.
This agreement promotes trade and facilitates trade of important commodities.