Centre imposes 40% duty on onion exports amid rise in domestic prices
Onion Price Rise: The government has levied a 40% duty on onion exports until December 31, according to the Finance Ministry.
It stated that the duty is effective immediately.
The decision comes as onion prices rise again this month. According to reports, onion prices are expected to rise further in September.
Tomato prices have risen further in August on average, according to the Reserve Bank of India (RBI), despite recent data indicating some pullback, the RBI said in its bulletin on Thursday.
According to the bulletin, onion and potato prices increased sequentially as well.
The government is looking into various distribution channels for onions, including as e-auctions, e-commerce platforms, and partnerships with state governments to offer discounts through their retail outlets run by consumer cooperatives and companies.
The government is currently stockpiling 3 lakh tonnes of onions in the Price Stabilisation Fund (PSF) to manage any unexpected price rises during the period of low supply.
According to government data, the price of onions has begun to rise slightly. As of August 10, the all-India retail price for this vital kitchen commodity was Rs 27.90 per kilogram, a little increase of slightly more than Rs 2 per kilogram over the same period last year.
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- With inputs from agencies
