India has imposed a ban on onion exports until March 31, 2024, following a surge in domestic prices to Rs 40/kg due to crop damage from unseasonal rainfall in Maharashtra. This move is expected to result in a significant drop in onion prices in January. Recent surveys by central government officials assessed the damage caused by the rainfall, and while export demand from Bangladesh had initially supported prices, traders anticipate a decline once kharif onions flood the market in January.
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