Onion Export: The government has reduced the duty on onion exports from 40 per cent to 20 per cent. The duty cut will be effective from Saturday, September 14, the Finance Ministry said in a notification. The government has also removed the minimum export price of US$ 550 per tonne on onions to boost onion exports and increase farmers’ income. The government had lifted the ban on onion exports on May 4 this year, but had imposed 40 per cent duty and a minimum export price of US$ 550 per tonne.
India exported 2.6 lakh tonnes of onion till July this financial year 2024-25. In the last financial year, the country exported 16.07 lakh tonnes of onion. The decision to remove the minimum export price on onion was taken despite its high retail prices.
current price of onion
According to data from the Department of Consumer Affairs, the all-India average price of onion on September 13 was Rs 50.83 per kg, while the model price was Rs 50 per kg. The maximum price of onion was Rs 83 per kg and the minimum was Rs 28 per kg. On September 5, the central government launched the first phase of retail sale of onion at a subsidized rate of Rs 35 per kg to provide relief to consumers in Delhi-NCR and Mumbai.
How much did custom duty increase on sunflower and soybean oil
On the other hand, the government has increased the customs duty on crude and refined sunflower oil to 20 percent and 32.5 percent respectively. According to the notification of the Finance Ministry, the basic customs duty on crude palm, soybean and sunflower oil has been increased from zero to 20 percent. The basic customs duty on refined palm, soybean and sunflower oil has been increased from 12.5 percent to 32.5 percent. The effective duty on these crude oils will increase from 5.5 to 27.5 percent and on refined oils from 13.75 to 35.75 percent. This change is also coming into effect from September 14.
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