Centre Bans On The Export Of Onion Till Next Year
Delhi/Hyderabad, Dec 8 (Maxim News): The Central government has taken a sensational decision. A ban has been imposed on onion exports till March 2024. The orders have been issued today.
The Center has made it clear that the ban on onion exports is to control prices and orders. From now on, any kind of onion grown in our country cannot be exported.
The Center has said that this decision has been taken to reduce the rising onion rates. However, the Directorate General of Foreign Trade (DGFT) said in a notification that onions can be exported if other countries request it.
At present, the price of onion in the retail market in India is Rs. 60 per kg. In some places it is up to Rs. 80 in the market, in august 2023, it imposed a 40 percent customs duty on onion exports. It was again revised in October to set the minimum export price of onion at Rs. 800 per tonne. The latest ban has come into effect.
In 2022-23, the Central government has kept 2.51 lakh tonnes of onion as buffer stock. The Central government had earlier decided to keep 3 lakh tonnes of onion as buffer stock in the season of 2023-24 (Maxim News)
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