Indian Govt allows export of onion to Bangladesh, UAE with riders
The government has allowed the export of 64,400 tonnes of onion to the UAE and Bangladesh through the National Cooperative Exports Ltd (NCEL), according to notifications issued by the Directorate General of Foreign Trade (DGFT).
The export of 50,000 tonnes of onion is being allowed for Bangladesh, while another 14,400 tonnes are being permitted for dispatch to the UAE.
The notification states that the modalities for the exports to Bangladesh will be worked out by the NCEL in consultation with the Department of Consumer Affairs. The government wants the exports to take place in a calibrated manner as it is keeping a close watch on domestic prices and does not want them to spin out of control.
The notification allowing the export of 14,400 tonnes of onions to the UAE through NCEL has placed a quantity ceiling of 3,600 metric tonnes for each quarter.
The government had earlier with effect from December 8, 2023 amended the export policy of onions to bring them from the 'free' to the 'prohibited' category till March 31, 2024. The step was taken as onion prices had started shooting up in the domestic market with supplies falling short.
However, some government-to-government shipments are being allowed to meet commitments with friendly countries.
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
Free Helpline
Legal Credit