KATHMANDU, Dec 8: India has banned export of onions amid rising prices in the domestic market.
According to a notice published by the Indian government on Wednesday, the export ban of onion will continue till March, 2024. The notice issued under the Foreign Trade Act and Policy bans the export of onion till March 31, 2024.
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The notice, however, clearly states that the consignments of onions will be allowed to be exported if the loading of onions on the ship has commenced before the issuance of the notification.
Earlier in August, India had imposed a 40% customs duty on the export of onions as an effort to bridle inflation ahead of key elections. The export tax was said to continue till the end of the year. But as the export tax did not stop export of onion to other countries, India authorities have now come to a decision to completely ban the export of onion to make sure that onion is available to the consumers within India.
Meanwhile, the Kathmandu Valley is grappling with a shortage of potatoes and onions after traders stopped selling these vegetables in the Kathmandu Valley, citing the government’s decision to impose value-added tax (VAT) on these agricultural products.
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