Tuesday, June 25, 2024

Govt bans onion exports to keep prices in check

The government has banned exports of onion till March next year in order to increase domestic availability so that prices do not spin out of control.

“The export policy for onions is amended from free to prohibited till March 31, 2024,” the Directorate General of Foreign Trade (DGTF) said in a notification.

The DGFT, however, said that the exports of onion will be allowed on the basis of permission granted by the government to other countries based on their request.

It added that shipments of onion, whose loading had commenced before this notification, are allowed to be exported.

Further, in cases where shipping bill is filed and vessels have already berthed and anchored in Indian ports for loading of onion and their rotation number has been allocated before this notification, that shipment is also allowed for exports.

The government had earlier imposed a minimum export price of $800 per metric tonne, until December 31, 2023, to discourage exports, in an effort to curb spiraling prices.

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