India impose 40 percent tax on onion export..!?
Onions harvested during April-June meet consumer demand until re-harvest in October-November. According to the Ministry of Finance, 40 percent tax is levied on onion exports till december 31 this year. It has also been announced that this levy will come into effect immediately. Sources in the central government said that this step has been taken as the price of onion continues to rise this month and it is expected that the price of onion will continue to pick up from September.
Tomato prices hit an all-time high in August. So the common people were forced to buy tomatoes and not be able to use them. However, in recent days, as freshly harvested tomatoes have started hitting the market, the prices have gradually come down and are being sold at an average price of Rs.40 to Rs.60 per kg. Like onions, potato prices have also recorded a sustained rise. The government had decided to keep 3 lakh tonnes of onion in safe stock for the 2023-24 season. In 2022-23, it maintained only 2.51 lakh tonnes of onion in stock.
The central government believes that this move will help to meet the demand of onion in the country and control the price. onion, harvested during April-June, accounts for 65 percent of India's onion production. That meets the consumer's demand till the onions are harvested again in October-November. During the lean season, onions procured by the central government are distributed to the States and Union Territory Governments.
Tomato prices hit an all-time high in August. So the common people were forced to buy tomatoes and not be able to use them. However, in recent days, as freshly harvested tomatoes have started hitting the market, the prices have gradually come down and are being sold at an average price of Rs.40 to Rs.60 per kg. Like onions, potato prices have also recorded a sustained rise. The government had decided to keep 3 lakh tonnes of onion in safe stock for the 2023-24 season. In 2022-23, it maintained only 2.51 lakh tonnes of onion in stock.
The central government believes that this move will help to meet the demand of onion in the country and control the price. onion, harvested during April-June, accounts for 65 percent of India's onion production. That meets the consumer's demand till the onions are harvested again in October-November. During the lean season, onions procured by the central government are distributed to the States and Union Territory Governments.