Center forbids exporting of onions till March 2024

<p>Delhi, New: According to a recent official notice released on Thursday evening, India has formally banned the export of onions till March 2024 in an effort to control onion prices and guarantee local supply.</p>
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<p>Notification Of The Directorate General Of Foreign Trade<br />
The letter from the Directorate General of Foreign Trade (DGFT) made it clear that while exporting onions is prohibited, special authorization from the national government to other nations may make an exemption. These nations will be the ones to propose that these permits be given.</p>
<p>Prices of Onions Right Now<br />
Currently, retail outlets are selling onions for around Rs 60 per kilogram. In August of last year, the government implemented measures that included a 40 percent tariff on onion exports until December 31, 2023. (Also Read: Check Out The Highest Paid Indian CEOs’ Educational Backgrounds.)</p>
<p>Furthermore, the central government established a Minimum Export Price (MEP) of USD 800 per tonne, free-on-board, effective October 29.</p>
<p>Interestingly, ‘Bangalore rose onion,’ a particular kind farmed in and around Bengaluru, Karnataka, was exempt from the export tariff. However, there is a catch to this exemption: exporters need to provide a certificate from the Karnataka government’s Horticulture Commissioner attesting to the kind and amount of Bangalore Rose Onions that are going to be exported.</p>
<p>Deficiency Stock and Government Proposals<br />
The national government has started releasing onions from its buffer stock in response to the problem of increasing onion prices. The government has increased its buffer stock target from 2.51 lakh tonnes in the previous season (2022–2023) to 3 lakh tonnes for the current season (2023–24). During times of low supply, buffer stocks act as a tactical reserve to handle crises and keep prices stable.</p>
<p>Recognizing the Cycle of Onion Production in India<br />
The article emphasizes the importance of the Rabi onion harvest, which takes place from April to June, pointing out that 65 percent of India’s onion output comes from this crop. Up to the October–November harvest of the Kharif crop, this harvest is essential to satisfying consumer demand</p>