In the exciting world of international trade, there's a hidden gem waiting to be discovered the onion. This common vegetable has a special story to tell, filled with flavors, benefits, and endless possibilities. As we begin this journey, let's peel back the layers and find out why exporting onions is such a promising choice.
Have you ever wondered how a simple vegetable could be a gateway to international success? Let's take a closer look at why onions are more than just a kitchen staple; they're a passport to profitable exports.
The global onion market is led by China and India, with limited international trade. These two countries are major contributors to global onion consumption. Notably, in 2019, the United Arab Emirates had the highest onion consumption per capita at 25.3 kg.
In India, the onion market shows promising growth, with exports valued at approximately 3000 crore. In the fiscal year 2022-23, India exported 15.19 lakh tonnes of onions, meeting consistent global demand. Looking ahead, the demand for onions in target markets is projected to grow by 2-4% annually until 2024, leading to increased retail sales volumes: 1,488 thousand tonnes in Indonesia, 449 thousand tonnes in Vietnam, and 52 thousand tonnes in Thailand. This surge reflects the rising preference for onions as a staple food in these regions.
