India Prohibits Onion Exports Till March 2024

India Prohibits Onion Exports Till March 2024

The DGFT notification said the export of onions will be, however, allowed on the basis of permission granted by the central government to other countries based on the request made by the countries.

ANIUpdated: Friday, December 08, 2023, 10:06 AM IST
article-image
India Prohibits Onion Exports Till March 2024 | Representative Image

India has prohibited the export of onions till March 2024, as per an official notification issued late on Thursday evening.

The DGFT notification said the export of onions will be, however, allowed on the basis of permission granted by the central government to other countries based on the request made by the countries.

Current Onion Prices

Onions are currently sold at around Rs 60 per kg in retail markets.

In August, the government imposed a 40 per cent duty on the export of onions to check price rise and improve supplies in the domestic market until December 31, 2023.

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.

The central government had, though, exempted the export of 'Bangalore rose onion' from the export duty, with a small rider -- goods meant for export shall be allowed to be exported subject to the exporter furnishing a certificate from the Horticulture Commissioner, Government of Karnataka, certifying the item and quantity of Bangalore Rose Onion to be exported.

Bangalore rose onion is a variety of onion grown in and around Bengaluru, Karnataka. It got the coveted Geographical Indication tag in 2015.

Onion Stock And Price Surge

Faced with rising onion prices, the central government has been releasing the staple vegetable from its buffer stock. The central government had earlier decided it would maintain 3 lakh tonne of onions in the 2023-24 season as buffer stock. In 2022-23, the government maintained 2.51 lakh tonne onion as buffer stock.

Buffer stock is maintained to meet any exigencies and for price stabilisation if rates go up significantly during the lean supply season.

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. 

RECENT STORIES

Latest Trends In Brand Protection 2024

Latest Trends In Brand Protection 2024

Motilal Oswal Secures ₹1,250 Cr In First Close For New AIF Real Estate Fund

Motilal Oswal Secures ₹1,250 Cr In First Close For New AIF Real Estate Fund

Salaries In India To Rise By 9.5% In 2024 Amidst Global Challenges: Aon survey

Salaries In India To Rise By 9.5% In 2024 Amidst Global Challenges: Aon survey

Coal India May Exceed Capex Target Of ₹16,500 Cr For FY24: Govt

Coal India May Exceed Capex Target Of ₹16,500 Cr For FY24: Govt

'Clarifying, Simplifying And Demystifying': IIT-Madras Granted Record Number Of Patents In 2023

'Clarifying, Simplifying And Demystifying': IIT-Madras Granted Record Number Of Patents In 2023