Government announces implementation of 40 percent export duty on onions till December
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New Delhi: The government on Saturday announced imposition of 40 per cent duty on the export of this everyday kitchen item to keep its prices calm by increasing the availability of onions in the country. According to the notification issued in this regard, this decision has come into force with immediate effect and will remain in effect till December 31. In order to increase the availability of onion in the domestic market, the government has imposed an export duty of 40 per cent on its export with immediate effect, which will be effective till December 31, 2023, said a statement from the commerce ministry.
The notification for imposition of export duty on onions has been notified in the Gazette. In the notification issued for imposing export duty on onions, it has been said that this decision was necessary in public interest. Significantly, inflation based on retail price index jumped to 7.44 per cent in July due to rise in retail prices of food items and all seasonal fruits and vegetables and some other items. The retail currency position in the month of June, 2023 was 4.87 per cent. Food inflation stood at 11.5 per cent in July.
For the first time since September 2022, retail inflation has gone up to seven. According to government data, the retail price of onion had gone up by 28 per cent in July this year as compared to June. Compared to July 2022, this time in July, the retail prices of onion were moving up by 7.13 per cent on an average. The government estimates that onion production will be around 30 million tonnes in the 2022-23 crop year. Its production in 2021-22 was around 3.17 crore tonnes.
The government has prepared a plan to create a buffer stock of three lakh tonnes of onions for the 2023-24 season. At present, the government is selling tomatoes at controlled prices in major markets through cooperative marketing agencies to keep the prices of tomatoes cool in the retail market. Agencies like NAFED will make tomatoes available in the retail market at Rs 40 per kg from Sunday in Delhi NCR and some other markets.
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