New Delhi: The Union government has banned exports of onion till March next year. The decision was taken to increase domestic availability and to keep prices in check. The Directorate General of Foreign Trade announced this.
The DGFT also said that the export of onions will, however, be allowed based on the permission granted by the central government to other countries based on their request. In August, the government had imposed a 40 per cent duty on the exports of onions to control the rise in princess and boost supplies in the domestic market until the year end. The central government subsequently set a Minimum Export Price (MEP) of USD 800 per tonne on a free-on-board basis for the export of onions with effect from October 29.
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The central government had earlier decided it would maintain 3 lakh tonnes of onions in the 2023-24 season as buffer stock. In 2022-23, the government maintained 2.51 lakh tonnes of onion as buffer stock. Rabi onion harvested during April-June accounts for 65 per cent of India’s onion production and meets the consumer’s demand till the Kharif crop is harvested in October-November.
Onions are currently priced at around Rs 60 per kg in the retail markets in India.
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