Centre imposes 40% duty on onion exports till December 31

The imposition of 40% duty will come into force with immediate effect, and will remain in force up to and inclusive of the December 31, 2023

PGurus Newsdesk

August 19, 2023

The imposition of 40% duty will come into force with immediate effect, and will remain in force up to and inclusive of the December 31, 2023

Onion exports are subject to a 40% duty by the Centre with immediate effect

On Saturday, the Centre imposed a 40% export duty on onion exports till December 31.

The prices of several vegetables including onions, potatoes, and tomatoes have skyrocketed in the last few weeks. Following the soaring prices of tomatoes, the government decided that it will sell tomatoes at Rs.40 per kg from August 20 onwards with an aim to further cool down its prices.

NAFED and NCCF have been directed by the consumer affairs department to sell tomatoes at Rs.40 per kg from August 20, in view of the continued decline in tomato prices in wholesale and retail markets.

The Consumer Affairs Ministry on Friday announced the decision, saying that till date more than 15 lakh kg of tomatoes have been procured by NAFED and NCCF since July 14.

Tomatoes have been sold by the two agencies at subsidized rates across the country in locations like Delhi-NCR, Rajasthan, Uttar Pradesh, and Bihar in the past one month.

There was a spike in retail inflation also for July, as it had touched 7.44 percent owing to high food prices, which took food inflation to 11.51 percent for the same period.

The announcement was made through a notification on Saturday. This notification shall come into force with immediate effect and will remain in force up to and inclusive of December 31, 2023.

[With Inputs from IANS]

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