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Centre permits 64,400 tonnes of onion export to UAE, Bangladesh
The Centre has permitted the export of 64,400 tonnes of onions to UAE and Bangladesh through the National Cooperative Exports Ltd, according to notifications issued by the Ministry of Commerce and Industry
The Centre has permitted the export of 64,400 tonnes of onions to UAE and Bangladesh through the National Cooperative Exports Ltd, according to notifications issued by the Ministry of Commerce and Industry.
The government has permitted the export of 50,000 tonnes of onions to Bangladesh and 14,400 tonnes to the United Arab Emirates (UAE), the notification added.
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As per the notification, modalities for the export of onions to the eastern neighbouring country will be worked by National Cooperative Exports Limited (NCEL), in consultation with the Department of Consumer Affairs.
"Export of 14,400 tonnes of onions, with a quantity ceiling of 3,600 MT (metric tonne) quarterly, to UAE through NCEL is notified,' the official notification from the Directorate General of Foreign Trade (DGFT) read.
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It is important to note that on December 8, 2023, the government prohibited the export of onions till 31 March 2024. The DGFT notification said the export of onions will be, however, allowed based on permission granted by the central government to other countries based on the request made by the countries.
To check the soaring price of onion, the government imposed a minimum export price of $800 per tonne on October 28 till December 31, 2023.
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In August, the government imposed a 40% duty on the export of onions to improve supplies of the staple vegetable in the domestic market until December 31, 2023.
With rising onion prices, the central government has been releasing the staple vegetable from its buffer stock. The central government had earlier decided to maintain 3 lakh tonne of onions in the 2023-24 season as buffer stock. In 2022-23, the government maintained 2.51 lakh tonne onion as buffer stock.
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First Published:4 Mar 2024, 07:37 PM IST
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