News APP

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  gplay

This article was first published 4 years ago
Home  » Business » Govt bans export of onions with immediate effect

Govt bans export of onions with immediate effect

Source: PTI
September 14, 2020 23:11 IST
Get Rediff News in your Inbox:

In the national capital, onion prices were ruling at around Rs 40 per kilogram.

The government on Monday banned the export of all varieties of onions with immediate effect, a move aimed at increasing availability and curbing prices of the commodity in the domestic market.

"The export of all varieties of onions... is prohibited with immediate effect," the Directorate General of Foreign Trade (DGFT) said in a notification.

 

The DGFT, an arm of the commerce ministry, deals with exports and imports-related issues.

The provisions under transitional arrangement shall not be applicable under this notification.

In the national capital, onion prices were ruling at around Rs 40 per kilogram.

Wholesale price inflation for onion stood at (-) 34.48 per cent in August.

Maharashtra, Karnataka, Madhya Pradesh, Bihar and Gujarat are major onion producing states.

It may be noted that 40 per cent of the country's total onion crop is produced in the kharif season and the rest during the rabi season.

The kharif crop, however, cannot be stored.

Photograph: Ajay Verma/Reuters

Get Rediff News in your Inbox:
Source: PTI© Copyright 2024 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.
 

Moneywiz Live!