A notification issued by the Finance Ministry on August 19 said that they’ve imposed a 40 per cent export duty on onions until December 31, 2023.
Under the aegis of the farmers union Shetkari Saghtana, onion farmers staged a ‘rasta roko’ agitation in Maharashtra’s Nashik district on Monday in opposition to the Central authorities’s determination to impose a 40 per cent export duty on the kitchen staple.
Amid the protests, one of many representatives of the Union mentioned, “Farmers die by suicide. Why do they try this? The onion crops are broken as a consequence of rain and that’s the reason the costs have elevated. The Government ought to be aware of the farmers’ wants and cease the farmers` suicides.”
The protest was organized within the Yeola space of the Nashik district earlier as we speak.
The authorities on Saturday imposed a 40 per cent duty on the export of onions to test worth rise and enhance provides within the home market until December 31, 2023.
A notification issued by the Finance Ministry on August 19 said that they’ve imposed a 40 per cent export duty on onions until December 31, 2023.
“Government imposes 40 per cent duty on onion exports till December 31,” the Ministry said.
The export duty comes amid studies that onion costs are prone to rise in September. Earlier on August 11, the central authorities began releasing the staple vegetable from its buffer inventory.
The central authorities had earlier determined it’s going to keep 3 lakh tonne of onions within the 2023-24 season as buffer inventory. In 2022-23, the federal government maintained 2.51 lakh tonne onion as buffer inventory.
Buffer inventory is maintained to fulfill any exigencies and for worth stabilization, if charges go up considerably throughout the lean provide season.
