To stabilize onion prices and ensure adequate domestic availability, the government has enforced a ban on onion exports until March 31, 2024. The Directorate General of Foreign Trade (DGFT) announced this amendment, shifting the export policy from free to prohibited. However, exceptions exist for exports permitted based on specific government permissions granted to other countries upon request. The notification clarified that ongoing onion shipments, with loading already initiated before this announcement, are permitted for export. Additionally, shipments with filed shipping bills and vessels already berthed and allocated rotation numbers at Indian ports for loading before this notification are also allowed to proceed with exports. Earlier measures included imposing a minimum export price of $800 per metric tonne until December 31, 2023, aimed at discouraging exports and mitigating the surge in onion prices. These actions are part of the government's strategy to regulate onion markets and prevent price escalation by prioritizing domestic availability.
Key Points:
1. The government has enforced a ban on onion exports until March 31, 2024, aiming to stabilize domestic availability and prevent price escalation, as declared by the Directorate General of Foreign Trade (DGFT).
2. Exceptions to this ban include allowing onion exports based on government-granted permissions to other countries upon their requests.
3. Onions whose loading began prior to this notification are permitted for export, along with shipments where shipping bills were filed, vessels were already docked for loading, and rotation numbers were allocated before the ban announcement.
4. Previously, the government had set a minimum export price of $800 per metric tonne until December 31, 2023, as a measure to discourage exports and control rising onion prices.
5. This prohibition signifies a strategic move to prioritize domestic onion availability and rein in potential price surges, while also outlining specific allowances for certain ongoing export processes based on pre-ban criteria.
(With Agency Inputs)
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