Onion Exports Resume with Government Stipulated Minimum Price of USD 550/Tonne

India lifted its ban on onion exports, setting a minimum export price of $550 per tonne. The move comes during elections, as onions are a politically sensitive commodity. Last night, India imposed a 40% export duty on onions. In August 2022, India had imposed a 40% export duty on onions until December 31, 2023.

The government on Saturday lifted the ban on onion exports but imposed a minimum export price (MEP) of USD 550 per tonne.

The decision assumes significance as the commodity is politically sensitive and general elections are going on in the country.

''The export policy of onions is amended from prohibited to free subject to MEP of USD 550 per metric ton with immediate effect and until further orders,'' the directorate general of foreign trade (DGFT) said in a notification.

Last night, the government imposed a 40 per cent duty on the export of onions.

In August last year, India had imposed a 40 per cent export duty on onions up to December 31, 2023.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)