Soaring Prices: Govt bans export of onion with immediate effect
PTI, Sep 29, 2019, 3:40 PM IST
New Delhi: The government on Sunday banned the export of onion to increase availability of the commodity in the domestic market and contain rising prices.
“Export of all varieties of onions…is prohibited with immediate effect,” the Directorate General of Foreign Trade (DGFT), an arm of the commerce ministry which deals with exports and import related issues, said in a notification.
The DGFT on September 13 had imposed a minimum export price (MEP) of USD 850 per tonne to curb its shipments and help bring down rising domestic prices.
The MEP is the rate below which no exports are allowed.
Retail onion prices have skyrocketed to Rs 60-80 per kg in Delhi and some other parts of the country due to supply disruption from flood-affected growing states like Maharashtra.
Meanwhile, to give relief to consumers from high prices, the central government is offloading 50,000 tonnes of buffer stock of onion across the country.
The Centre last month had also warned of strict action against hoarding of onion amid supply disruption due to floods in parts of major growing states – Maharashtra and Karnataka.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
Sensex, Nifty decline on selling in IT shares, FII sellout; end Samvat 2080 with 22% gains
Sensex, Nifty decline in early trade on unabated foreign fund outflows, selling in IT stocks
Gold surges Rs 1,000 to breach Rs 82k-mark as Diwali sparkles demand
Car makers witness record sales on Dhanteras; Oct bookings up by 30%
Dhanteras begins on slow note; Jewellers expect footfalls to increase
MUST WATCH
Latest Additions
Jayant Patil claims BJP used irrigation ‘scam’ to blackmail Ajit Pawar; Fadnavis, NCP chief hit back
Medical College expels 5 MBBS students from hostel for ragging juniors
Insulting women is in DNA of Cong leaders, alleges Jharkhand BJP
Man arrested from Delhi for calling up Pappu Yadav posing as aide of Lawrence Bishnoi
Tejasvi Surya hits out at Kharge, CMs of Cong-ruled states over poll promises
Thanks for visiting Udayavani
You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.