Live tv
search
  1. You Are At:
  2. English News
  3. Business
  4. Govt bans export of onions with immediate effect

Govt bans export of onions with immediate effect

The government on Monday banned the export of onions with immediate effect. The move aimed at increasing the availability and checking price of the commodity in the domestic market.

India TV News Desk Edited by: India TV News Desk New Delhi Updated on: September 14, 2020 22:49 IST
onions
Image Source : FILE

Govt bans export of onions with immediate effect

The government on Monday banned the export of onions with immediate effect. The move aimed at increasing the availability and curbing prices of the commodity in the domestic market. In the revised policy, the export of all varieties including 'Bangalore Rose' onions and 'Krishnapuram' onions excluding cut, sliced or broken in powder form, have been prohibited.

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

"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. 

(With inputs from agencies)

Latest Business News

Read all the Breaking News Live on indiatvnews.com and Get Latest English News & Updates from Business