New Delhi. Amid the ongoing Lok Sabha elections in the country, the government on Saturday lifted the ban on onion export, but also fixed the minimum export price (MEP) at $ 550 per tonne. “Onion export policy has been revised to exempt it from restrictions under MEP of $550 per tonne with immediate effect and until further orders,” the Directorate General of Foreign Trade (DGFT) said in a notification. Last night the government had imposed 40 percent duty on onion exports. In August last year, India had imposed 40 percent export duty on onion till December 31, 2023.
On December 8, 2023, the government had banned the export of onion till March 31 this year. In March, the export ban was extended until further orders. The Union Agriculture Ministry had released onion production figures in March. According to the data, onion production in 2023-24 (first advance estimate) is expected to be around 254.73 lakh tonnes compared to last year’s around 302.08 lakh tonnes.
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Farmers had protested against the ban
According to the data, production has decreased by 34.31 lakh tonnes in Maharashtra, 9.95 lakh tonnes in Karnataka, 3.54 lakh tonnes in Andhra Pradesh and 3.12 lakh tonnes in Rajasthan. Farmers of Maharashtra had protested against the export ban. Last month, Congress had accused the Narendra Modi government of neglecting the farmers of Maharashtra due to the ban on onion exports.
Along with this, the government decided to give exemption from duty on import of indigenous gram till March 31, 2025. Apart from this, duty exemption on import of yellow peas has also been increased through ‘Bill of Entry’ issued on or before October 31, 2024. ‘Bill of Entry’ is a legal document filed by importers or customs clearance agents on or before the arrival of imported goods. In August last year, India had imposed 40 percent export duty on onion till December 31, 2023.
Tags: business news in hindi, Onion Price, Onion Production
FIRST PUBLISHED: May 4, 2024, 15:38 IST