NEW DELHI, Aug 20 (NNN-PTI) – The Indian government, yesterday, imposed a 40 percent duty on the export of onions.
The order was issued by the federal finance ministry, with the aim to check the price rise and ensure ample supplies of the essential Indian kitchen ingredient, in the domestic market.
As per the notification, export duty on onions shall come into force with immediate effect and will remain applicable until Dec 31, 2023.
The decision to impose the 40 percent duty on the export of onions came, as prices of the commodity continued to rise this month. Reports said, onion prices are likely to increase further, next month.
On Aug 11, the federal government started releasing onion from its buffer stock, to contain prices. Buffer stock is maintained for price stabilisation and to meet any exigencies.
In June, tomato prices in India began to skyrocket. The tomato retail prices across major cities in India remained up to three U.S. dollars a kilo.
Last week, federal finance minister, Nirmala Sitharaman told the country’s parliament, India has started importing tomatoes from neighbouring Nepal.– NNN-PTI
