Page 46 - Union Commerce News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Barely days after imposing a 40 per cent export tax on onions to cool down soaring prices, which, in turn, triggered widespread protests across the main growing belts, the Centre on Tuesday sought to mitigate both political and economic tensions gripping parts of Maharashtra. It decided to procure an additional 200,000 tonnes of onions at Rs 2,410 per quintal for its buffer stock from farmers, a rate that is strikingly close to the price at which they were being exported before the 40 per cent duty was levied on August 19. The export price before the imposition of the duty stood at around $320...

The Centre has announced plans to purchase two lakh metric tonnes of onions in Maharashtra to provide relief to producers. The government will buy the onions at a rate of Rs 2,410 per quintal and set up special procurement centres in Nashik and Ahmednagar. This decision comes after protests by farmers and traders against the export duty imposed on onions to control prices and increase supplies in the domestic market.

The announcement comes amid protests by farmers and traders against the Centre's decision to impose 40 per cent export duty on onions to check price rise and improve supplies in the domestic market.

He also said special procurement centres will be set up in Nashik and Ahmednagar in the state

The announcement comes amid protests by farmers and traders against the Centre's decision to impose 40 per cent export duty on onions to check price rise and improve supplies in the domestic market