To improve the domestic availability of onions, Government of India imposes 40% export duty on onions with immediate effect upto 31st December 2023
New Delhi: The central government of India has imposed a 40% export duty on onion exports till December 31, 2023. This is an attempt to control the rising prices of onions in the country. The notification was issued by the Ministry of Finance on Saturday, August 19, 2023.
The export duty is expected to raise the prices of onions in the domestic market. However, the government hopes that this will help to improve the availability of onions and bring down the prices in the long run. The export duty is a temporary measure and will be lifted once the prices of onions stabilize.
Prices Of Several Vegetables Up
The prices of several vegetables including onion, potato and tomatoes have skyrocketed in last few weeks. Following the soaring prices of tomatoes, the government decided that it will sell tomatoes at Rs 40 per kg from August 20 onwards with an aim to further cool down its prices. NAFED and NCCF have been directed by the consumer affairs department to sell tomatoes at Rs 40 per kg from August 20, in view of continued decline in tomato prices in wholesale and retail markets.
Announcement From Consumer Affairs Ministry
The Consumer Affairs Ministry on Friday announced the decision, saying that till date more than 15 lakh kg of tomatoes have been procured by NAFED and NCCF since July 14. Tomatoes have been sold by the two agencies at subsidised rates across the country in locations like Delhi-NCR, Rajasthan, Uttar Pradesh and Bihar in the past one month.
There was a spike in retail inflation also for July, as it had touched 7.44 per cent owing to high food prices, which took food inflation to 11.51 per cent for the same period.
(With inputs from agencies)
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