Govt plans to raise ban on onion exports as costs began softening on recent arrival of commodity
New Delhi: The federal government is contemplating lifting the ban on exports of onion as recent arrival of the commodity has began softening its costs within the home market, an official mentioned.
“Arrival of fresh onion will further soften the prices here so there is a need to lift the export ban,” the official mentioned.
Onion costs have come right down to round Rs 60-70 per kg relying upon high quality and locality from the height of Rs 160 per kg final month.
Contemporary onion is offered from January to Could.
In September 2019, the federal government banned the export of onion to extend the provision of the commodity within the home market and include rising costs. The federal government had additionally imposed inventory limits on merchants.
Retail onion costs had skyrocketed in Delhi and different components of the nation as a consequence of provide disruption from flood-affected rising states like Maharashtra.
Onion manufacturing is estimated to have declined by round 25 % within the Kharif and late Kharif seasons of 2019-20 crop 12 months in comparison with the earlier 12 months as a consequence of late monsoon after which extra rains within the main producing states.
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