The Indian government has banned the export of onions until March 31, 2024, aiming to ensure increased availability domestically and stabilize prices. Onions are currently being sold at INR 70-80 per kilogram in New Delhi.

The government has taken various measures to control onion prices, including stepping up the sale of buffer onion stock at a subsidized rate and imposing a minimum export price (MEP) of $800 per tonne on onion exports until December 31, along with a 40% export duty on onions.

The Directorate General of Foreign Trade (DGFT) stated that exports of onions will be prohibited, but exceptions may be granted based on government permission to other countries. Shipments of onions that started loading before the ban and consignments registered in the customs system before the notification are allowed to be exported.

The move comes as a response to curb soaring onion prices and ensure sufficient supply in the domestic market. In October, the government had introduced measures to stabilize onion prices, given its essential role in Indian cuisine.

Source: www.firstpost.com