Onion prices to stabilise within 2 months, says Mydin boss

onion prices to stabilise within 2 months, says mydin boss

Last month, India banned the export of onions until March 2025.

PETALING JAYA: The head of a hypermarket chain is confident that the supply and price of onions will stabilise in two months because of the harvesting season in India.

Mydin hypermarkets managing director Ameer Ali Mydin said he was informed that the harvesting season will boost the supply of onions in India and this could even see New Delhi cut short the export ban on onions.

Last month, FMT reported that food business owners in the Klang Valley had complained about an increase in onion prices, including for those from China, which became an alternative following India’s move to ban onion exports until March 2025.

There are concerns that Pakistan may also look to ban onion exports at a time when demand is expected to surge in Malaysia because of the festivities.

“It is expected that in one or two months, it (the export ban) will be lifted. We hope that the prices (of onions) will drop after that,” Ameer told FMT.

He said even though Malaysia was importing onions from other countries, like China and Pakistan, the increase in prices as a result of India’s export ban could not be avoided.

India’s export ban pushed up the prices of onions from other countries, he said. This was why the price of onions from China had shot up from RM1.99 to RM4.99 per kg

“We can get onions of a similar quality from Pakistan, but these are now being sold for RM6.99 per kg.

“We (importers) cannot do anything because this is a global phenomenon. It’s not just Malaysia that is affected,” he said.

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