Egypt: Government gears up to resume onion export within days

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The Egyptian government is getting ready to resume exporting onion within a few days, four government officials in the know told Asharq Business.

The anticipated decision follows the recent decline in onion price and increase in its production, along with its availability in the local market this season, the sources said.

The Ministries of Agriculture and Trade and Industry are currently considering this decision, one official noted.

First Assistant Minister of Agriculture and Land Reclamation Abbas El-Shennawy said that extending the ban on onion exports is no longer needed, expecting an abundance in onion production in the local market within 20 days after harvesting the new crop.

It is worth noting that onion prices dropped in the local markets by around 62% in the first quarter (Q1) of 2024 until now to EGP 15,000 per ton, compared to EGP 40,000 per ton in Q4 2023.

In 2023, Egypt imposed a three-month ban on the export of onions to control their soaring prices in the Egyptian market. This decision was effective from October 1st, 2023.

On December 11th, the cabinet issued a decision to extend banning onion exports until March 30th, 2024, in an attempt to control markets and ensure the availability of commodities.