Locals are taking it on the chin as onion prices spike up to Rs. 240 a kg in domestic markets.
Prices in Pakistan unexpectedly climbed to Rs. 160-180 from Rs. 120-140 last month due to heavy buying by exporters after India restricted onion exports till March 2024, and rates have only gone higher since then. Now, consumers are paying exorbitant costs for onions compared to other food items.
Exporters are increasing even with the limited arrival of Iranian and Kabul onions to meet the massive export demand.
India may lift its restriction following a price decline, but Pakistani exporters are working hard to capitalize on this opportunity till India restores onion exports to the global market.
Local exporters may not export directly, although foreign buyers may pick up onion from Dubai for onward shipping.
Meanwhile, the Balochistan crop has nearly run out, and the country is reliant on supply from various districts of Sindh which is putting pressure on pricing.
Onions account for a large portion of total vegetable exports, and the Pakistan Bureau of Statistics reported that total vegetable exports increased to 64,285 tons in November 2023 from 49,842 tons the previous month.
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