The Indian government has imposed a 40% export duty on onions until the end of the year to boost their availability in the domestic market, particularly for the upcoming festive season. The move comes in response to a recent surge in onion exports. Additionally, the government plans to release its onion stocks into wholesale markets to lower retail prices and stabilize the market amid a demand-supply mismatch. Unusual weather conditions and unseasonal rainfall have affected onion production and quality. India, the third-largest onion exporter globally, primarily exports to countries like Bangladesh, Malaysia, and the UAE. The government has also increased its buffer stock and will offer subsidized onions to consumers. These measures aim to support both farmers and consumers by ensuring reasonable prices and a consistent supply of onions.
Government Imposes 40% Export Duty on Onions to Ensure Market Stability
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