Centre imposes a 40% duty: The Centre placed a 40% charge on onion exports until December 31 in an effort to control soaring domestic costs, according to a government announcement cited.
The increase in export tax comes as studies suggest that onion prices may climb in September.
Last week, the government announced the immediate release of onions from its buffer stock in specified regions in order to keep prices stable until the fresh harvest arrives in October.
Government statistics show that the price of onions has started to slightly rise. The retail price for this necessary kitchen item in all of India as of August 10 was Rs 27.90 per kilogramme, an increase of little more than Rs 2 per kilogramme when compared to the same time previous year.
Owing to the purchase of onions during the Rabi season for release in high consumption areas during the lean season, the yearly buffer of onions increased from one lakh tonnes in 2020–21 to three lakh tonnes in 2023–24, according to data from the Ministry of Consumer Affairs.
According to a statement from the Ministry of Consumer Affairs, “the onion buffer has played a key role in ensuring the availability of onion to consumers at affordable prices and in maintaining price stability.”
The Rabi crop, which is harvested between April and June, provides nearly all of India’s onion needs up to the Kharif crop, which is harvested between October and November
Additionally, the government began irradiating onions on an experimental basis with the assistance of the Bhabha Atomic Research Centre (BARC) in order to increase their shelf life.
Also read: Titan has agreed to pay Rs. 4,621 crore for an additional stake in CaratLane
For Jammu And Kashmir news update: jk24x7news.tv
