Page 7 - Export Duty News Today

Washington, Aug 21 (IANS) Reiterating that India imposes high tariffs on American companies that manufacture motorcycles and cars, former US President Donald Trump has said he will slap reciprocal tax if voted to power in 2024.

New Delhi, Aug 21 (PTI) The government on Monday said the decision to impose a 40 per cent export duty on onions was not a premature but a timely move to boost domestic supply and control retail prices.

Vegetable so there will be some global implication as well. lets bring in a business correspondent who joins us alive. food inflation has been hitting the countrys economy hard, but these measures, trying to protect these domestic consumers, that has a global implication, dont they? absolutely. you know, onion is a kitchen staple in india, similar to other asian countries and middle eastern countries and middle eastern countries that depend on india for the export of that vegetable. in fact, the...

A notification issued by the Finance Ministry on August 19 stated that they have imposed a 40 per cent export duty on onions till December 31, 2023.

The imposition of a 40% export duty on onions in Maharashtra has resulted in a drop in prices, angering farmers and putting the ruling Bharatiya Janata Party (BJP) on the defensive. Opposition parties are urging farmers to vote against the BJP in the upcoming parliamentary elections to express their dissatisfaction. The government imposed the duty to control rising onion prices, but farmers argue that it will lead to financial losses.

The Nashik District Onion Traders Association had given the call to not take part in auctions of the kitchen staple indefinitely till the Centre rolls back its decision, sources said. The Union government on August 19 imposed 40 per cent duty on the export of onions to increase domestic availability amid signs of increasing prices and in view of the upcoming festival season. �� Nashik Farmers Protest Against 40% Export Duty on Onions, Want Modi Government To Scrap Move.

The export duty comes amid reports that onion prices are likely to rise in September.

The Centre has imposed a 40% export duty on onions with immediate effect to cool down rising prices of the vegetable. The duty will be valid till December 31 or the next notification by the government.

Exporters and traders feel this tariff might not help much in cooling down prices in the Indian markets even if their exports are stopped as domestic production is not enough to meet demands.

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