Friday, May 24, 2024

Onion Export | Relief for farmers! Permission to export 10 thousand tonnes of onion each to Sri Lanka and UAE leader


Leaders Online Desk: The Center has allowed the export of 10,000 tonnes of onion each to Sri Lanka and the United Arab Emirates through the National Cooperative Exports. The Directorate General of Foreign Trade (DGFT) issued a notification in this regard late on Monday. Along with this, India has approved the export of 79,160 tonnes of onion by revoking the December 2023 export ban. (Onion Export)

The Ministry of Commerce and Industry, through the Directorate General of Foreign Trade (DGFT), issued a notification late on Monday evening. An additional 10,000 metric tonnes (MT) of onions (over the 24,000 tonnes already allowed) has been allowed to be exported to the United Arab Emirates. Also, Sri Lanka will also be allowed to export 10,000 tonnes of onion, said the notification.

In August, the central government had imposed a 40 percent duty on onion exports till December 31, 2023, to control the price hike in the domestic market and improve supply. The central government had fixed a minimum export price (MEP) of $800 per tonne for onion exports from October 29.

On December 8, 2023, the government had banned the export of onion till March 31, 2024. It has been extended indefinitely. The Directorate General of Foreign Trade (DGFT) has said in a notification that the export of onion will be allowed based on the requests made by the countries.

The central government had restricted onion exports in the 2023-24 financial year in the wake of reduced rainfall due to a drop in global supply and the impact of El Nino weather.

The central government had earlier decided to keep 3 lakh tonnes of onion as buffer stock during the 2023-24 season. In 2022-23, the government kept 2.51 lakh tonnes of onion as buffer stock.

Rabi onion, harvested between April-June, accounts for 65 percent of India's onion production and meets consumer demand until the Kharif crop is harvested in October-November. (Onion Export)

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