India imposes 40 pct duty on onion exports

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India imposes 40 pct duty on onion exports

STORY: India imposes 40 pct duty on onion exports DATELINE: Aug. 21, 2023 LENGTH: 00:01:30 LOCATION: New Delhi CATEGORY: ECONOMY SHOTLIST: 1. various of India gate 2. various of vegetable market 3. various of onion 4. various of export containers STORYLINE: Indian government Saturday imposed a 40 percent duty on the export of onions. The order was issued by the federal finance ministry with the aim to check the price rise and ensure ample supplies of the essential Indian kitchen ingredient in the domestic market. As per the notification, export duty on onions shall come into force with immediate effect and will remain applicable until Dec. 31, 2023. The decision to impose the 40 percent duty on the export of onions came as prices of the commodity continued to rise in August. Reports said onion prices are likely to increase further the next month. On Aug. 11, the federal government started releasing onion from its buffer stock to contain the prices. Buffer stock is maintained for price stabilization and

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