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Workers of a retail chain kind onions at Manchar village in Pune, India, November 11, 2019. Picture taken November 11, 2019. REUTERS/Rajendra Jadhav/File Photo Acquire Licensing Rights
Oct 28 (Reuters) – India has set a ground value of $800 per metric ton minimal export value on onions as much as Dec. 31, the federal government mentioned on Saturday, in a bid to make sure satisfactory home availability and to stabilise costs.
“The measure has been taken to maintain sufficient availability of onion to domestic consumers at affordable prices as the quantity of stored rabi 2023 onion is declining,” the federal government mentioned in an announcement, referring to crops sown in winter.
The authorities additionally introduced procurement of 200,000 tons of onions for its buffer, over and above the five hundred,000 tons already procured, it mentioned within the statement.
The south Asian nation had in August imposed a 40% export duty on onions as much as Dec. 31 to enhance home availability of the vegetable.
Reporting by Baranjot Kaur in Bengaluru and Neha Arora; modifying by David Evans
Our Standards: The Thomson Reuters Trust Principles.
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