Pakistan exported onions worth $210 million in the first 10 months of FY2023-24 (FY24) while locals paid a high price in domestic markets for the versatile staple food.
The All Pakistan Fruit and Vegetable Exporters Association has predicted exports to reach $250 million by end-FY24.
Still, the benefactors have always been the exporters rather than consumers, who are paying higher costs for onions, local media reported today.
A representative of the All Pakistan Fruit and Vegetable Exporters Association said the price surge is due to market forces and not exports. Wholesale prices were significantly lower than retail prices, he added.
In the first ten months of FY24, Pakistan exported 1.044 million tons of vegetables worth $371 million, compared to 1.171 million tons valued at $262 million the previous year. The average per ton price increased from $233 to $354 due to stable currency rates.
Onions comprised 200,000-225,000 tons of these exports, with the rest being potatoes and other vegetables. Despite imports of Iranian and Afghani onions, local prices remained high. Meanwhile, exporters took advantage of the recent Indian ban on onion exports to meet international demand.
In January 2024, the minimum export price (MEP) of onions was hiked to $1,200 per ton but it didn’t work and kept onion costs high in the local market. On the other hand, exporters made big money exporting good quality onions to international markets.
Pakistani onions are now available in several countries, with significant shipments to far eastern markets. Future export growth could be achieved by resolving issues with countries like Indonesia, the Philippines, and Thailand.
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It is good to Export Onions, Potatoes and other Vegetables and Fruits to earn Huge Foreign Exchange for the Country, as needed, but not to the cost of providing such things in Local Market at higher rates. Firstly the Demand for Country, be fulfilled, with affordable rates and good quality, and excess be Exported, specially to Middle East Countries.
Which country is importing these 100% rotten onions which are fit only for the animals, not humans. Please produce a single piece of onion available in the local market which is not rotten- just a single piece.