Price Control Measures in Focus Amidst Upcoming Festival Season

The Indian government has taken a significant step by imposing a 40% duty on onion exports until the close of this year’s calendar.

A notification from the Revenue Department of the Union Finance Ministry on Saturday unveiled this decisio. Stating that the directive would be effective immediately and extend until December 31, 2023.

On August 18, 2023, the central government made a noteworthy announcement, revealing plans to release onions from its buffer stock in targeted regions.

As a plausible consequence, the outlook for exports may decline. Further impacting the prices of this essential vegetable within the local market.

Amidst these dynamics, the Indian government’s move to impose an onion export duty seeks to stabilize local markets and maintain price equilibrium.