The Central Govt. of India, imposed a 40% duty on the export of onions on Saturday, 19th August,2023. The notification shall come into force with immediate effect, and it will remain in force upto and inclusive of the December 31, 2023,” a gazette notification of the Union Finance Ministry’s Revenue Department said.
On Saturday, the national average price was RS 30.72 per kilogram, with a maximum price of RS 63 per kilogram in Champhai in Manipur and a minimum of RS 10 per kilogram at Neemuch and Burhanpur in Madhya Pradesh.
As per ANI report, on August 11, the central government started releasing onion from its buffer stock, The government had decided it will 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.
According to the Commerce Ministry, in the ongoing financial year, about 9.75 lakh tonnes of onions have been exported. Bangladesh, Malaysia and the United Arab Emirates are the major importers of onions from India.
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