India Bans Export Of Onions With Immediate Effect
A worker seals a sack of onions at a market in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

India Bans Export Of Onions With Immediate Effect

Bookmark

The government on Monday banned the export of all varieties of onions with immediate effect, a move aimed at increasing availability and checking price of the commodity in the domestic market.

"The export of all varieties of onions... is prohibited with immediate effect," the Directorate General of Foreign Trade said in a notification.

The DGFT, an arm of the commerce ministry, deals with exports and imports-related issues.

The provisions under transitional arrangement shall not be applicable under this notification.

Also read: India’s Retail Inflation Exceeds MPC’s Target For Fifth Straight Month

In the national capital, onion prices were ruling at around Rs 40 per kilogram.

Maharashtra, Karnataka, Madhya Pradesh, Bihar and Gujarat are major onion producing states. It may be noted that 40 per cent of the country's total onion crop is produced in the kharif season and the rest during the rabi season. The kharif crop, however, cannot be stored.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.