New Delhi, Aug 22: The centre on Tuesday offered assurances to farmers and traders protesting the decision to impose a 40 per cent export duty on onions – a move it believes will check increase in prices of the kitchen staple in domestic markets.
At a media briefing today, union commerce minister Piyush Goyal said it had begun purchasing unsold stocks at the ‘historic’ price of ₹ 2,410 per quintal. The centre plans to procure around two lakh tonnes extra – around three lakh tonnes have already been purchased – in buffer stocks.
At the media briefing today, Mr Goyal confirmed procurement had started and slammed ‘political opponents’ for ‘trying to present a wrong picture (about export curbs)’.
“I would urge all farmers in onion producing states not to indulge in any panic selling,” Goyal said, “NCCF (National Cooperative Consumers’ Federation) and NAFED (National Agricultural Cooperative Marketing Federation of India) have been directed to procure onions…” he said.
What is the export duty on onions?
The 40 per cent export duty on onions – effective till December 31 and meant to restrict outward shipments and boost local availability of the vegetable – was announced last week. It was also decided to increase buffer stocks from three lakh tonnes to five lakh tonnes for the 2023-24 season.
