Page 8 - Export Duty News Today

The Finance Ministry through a notification imposed a 40 per cent export duty on onions till December 31, 2023. The export duty comes amid reports that onion prices are likely to rise in September.

State agriculture minister says he will speak with Centre

To improve the domestic availability of onions, government had on Saturday (August 19) imposed 40 per cent export duty on onions with immediate effect up to December 31, 2023.

At a meeting held at Lasalagon in Niphad taluka of Nashik Sunday, the Traders and Commission Agents Association took the call to boycott trade from Monday and have urged traders from other parts of the state to support their decision.

At India’s largest onion trading mandi in Lasalgaon, Nashik district, farmers and traders staged a protest on Sunday while at Rahuri agriculture market in Ahmednagar, farmers affiliated to Swabhimani Shetkari Sanghatana stopped auctioning on the commodity

The Finance Ministry through a notification imposed a 40 per cent export duty on onions till December 31, 2023. The export duty comes amid reports that onion prices are likely to rise in September.

The move is expected to cool the retail inflation as vegetable prices sent consumer inflation soaring to a 15-month high in July, compared with 4.87% in the previous month, breaching the upper tolerance band of the Reserve Bank of India for the first time in FY24.

To improve the domestic availability of onions, Government of India imposes 40% export duty on onions with immediate effect upto 31st December 2023.

Onion Price Hike: The export duty, which is the first time ever on onion, has been imposed as the retail sale price of the kitchen staple, according to government data, touched Rs 37/kg on Saturday in Delhi

MUMBAI, Aug 19 — India will impose with immediate effect a 40 per cent export duty on onions up to December 31 in an attempt to improve domestic availability of the vegetable,...