The story so far: In order to increase the availability of onions in the market, especially ahead of the upcoming festive season, the government on August 19 imposed a 40% duty on the export of onions until the end of the year. Elaborating on the rationale behind the move, Rohit Kumar Singh, Secretary at the Department of Consumer Affairs, said that a “sharp rise” in its exports had been observed in the recent past. Besides imposing this duty, the government will also be offloading its onion stocks in various wholesale markets to reduce retail prices. As per the Department of Consumer Affairs’ Price Monitoring Division, on August 25, the (all-India) daily average retail price of onions was 25% higher on a year-on-year basis, at ₹32.6/kg.
Also read | Onions to be made available at ₹25 as buffer stock burgeons
