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Onion cheaper than India, huge cut in petrol and diesel prices, is Pakistan’s economy back on track?

Pakistan Onion Price : Big news is coming out from Pakistan amid the increased rates of petrol and diesel, which is a good news for Pakistanis who are facing the brunt of inflation. In fact, Pakistan government has recently reduced the price of petrol by Rs 15.39 per liter, while the rate of diesel has been reduced by Rs 7.88 per liter. In Pakistan, the new price of petrol has become Rs 273.1 per liter and the new price of high speed diesel has become Rs 274.08 per liter. At the same time, now there is news that Pakistan is also providing onions at cheap rates, due to which India is facing losses. Due to this, some experts are also raising questions whether Pakistan’s economy is getting back on track, but it is not so easy, because Pakistan has a lot of debt and has to pay interest.

Pakistan is selling cheap onion
Pakistan is selling cheap onions in foreign markets, due to which India is incurring huge losses. India had lifted the export ban on onion only 10 days ago, but the export demand has reduced because Indian onion is more expensive than Pakistani onion. Even during the export ban, foreign buyers had stocked up Pakistani onions, due to which the demand is also decreasing.

At the same time, Pakistani onion is also becoming cheaper for foreign buyers. In such a situation, foreign buyers are waiting for the stock to get exhausted. It is estimated that the purchase of Indian onion will start from June. In fact, on the request of farmers and traders demanding fair price of onion, the Central Government had lifted the ban on export in the first week of May. It was expected that there would be huge orders from foreign buyers, due to which farmers would get good prices. But a huge decline has been recorded in the global market, the reason behind this was said to be buying cheap onions from Pakistan. The domestic price of onion has fallen by 15 percent.

Price of 50% fallen onion
Onion rates were stable until the ban on exports, but after the ban was lifted, when the supply increased, onion prices fell by more than 50 percent in the global market within a week. Due to decrease in exports, onion prices in India have fallen by more than 15 percent last week, which is worrying for the farmers. The central government had banned the export of onion in December 2023. In many areas including Maharashtra, farmers threw onions on the road, expressing their displeasure towards the government due to not being able to bear the cost. Since then, farmers were mobilizing to demand removal of the export ban.

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