The Indian government has imposed a ban on selling onions from 30 March 2024. in order to increase supply in India and to maintain prices. Onions are available for sale for INR 70 to 80 per kilo within New Delhi.
The government has taken a number of actions to limit the prices of onion by increasing the selling of buffer onion stocks with a subsidised rate, and setting the minimum export cost (MEP) of 800 dollars per tonne for onions exports up to December 31st, along with an export tax of 40% on onions.
The Directorate General of Foreign Trade (DGFT) announced that exports of onions would be banned however, exceptions could be granted on the basis of government approval to countries outside of the. The onions shipped that began loading prior to the prohibition and consignments that were registered with the customs system before announcement are permitted to be shipped out.
The decision is in reaction to reduce the exploding price of onions and to ensure adequate supply on the Indian market. In October, the Indian government took measures to stabilise the prices of onions, due to the importance of onion in Indian cooking.
Source: www.firstpost.com
Source: The Plantations International Agroforestry Group of Companies