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India bans onion export

Rtv online desk
|  29 Sep 2019, 00:00 | Update : 29 Sep 2019, 17:26
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The Indian Union Ministry of Commerce and Industry on Sunday banned the export of all varieties of onions with immediate effect. The development comes days after the prices of the basic kitchen staple skyrocketed across India.

"Export policy of Onion is amended from free to prohibited till further orders. Hence, the export of all varieties of onions is prohibited with immediate effect," a government notification said. Sitanshu Kar, Principal Spokesperson, Government of India, also tweeted saying, the Centre has prohibited "export of all varieties of #onions with immediate effect."

The retail prices of onion, a key kitchen staple, shot up to Rs 70-80 per kg in Delhi and Mumbai in wake of excess monsoon rains in major growing states. The situation regarding the onion price hike is also bad in cities like Bengaluru and Chennai, where onion is being sold for up to Rs 60 per kg. A similar price trend has prevailed in other parts of India as well.

The wholesale price of onion has touched Rs 4,000 per quintal (as per the Lasalgaon's wholesale market data), recording a hike of about Rs 1,000 per quintal in the recent months. The onion price hike is the highest in the past four years. In the past six months alone, the onion prices have been up by almost Rs 25 per kg, says the Consumer Affair Department's price monitoring cell data.

The excess monsoon in key producer states like Karnataka, Maharashtra, Madhya Pradesh, Gujarat, Rajasthan, Uttar Pradesh, and Bihar, has not only burned a hole in common man's pocket but has also led to a shortfall in its supply.

Source: Business Today


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