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Homechevron_rightBusinesschevron_rightCentre bans Onion...

Centre bans Onion exports

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Centre bans Onion exports
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New Delhi: On Thursday, the Centre put a ban on Onion exports and the same will be effective till March 31 2024. Earlier, India had imposed a minimum export price of $800 per metric ton until Dec. 31, 2023, in order to discourage exports. Prices were hiking in local markets then, reports PTI.

However, police informed that Onion farmers blocked the Mumbai Agra Highway at three places in Maharashtra's Nashik in response to the Centre's ban. They stopped auctions in wholesale markets in the district.

Centre imposed the ban in a bid to increase domestic availability and lower prices in the domestic market.

In October, the Centre decided to step up the sale of buffer onion stock in retail markets at the subsidised rate of Rs 25 per kg. It was a move to give relief to the consumers.

From October 28 to December 31 this year, the Centre imposed the USD 800 per tonne on onion exports as the minimum export price. In August, the Union government imposed a 40 per cent export duty on onions, which was to be effective till December 31.

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TAGS:BusinessexportsOnion
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