Government permits exporting an extra 10,000 tons of onions to the UAE
On March 26, he directed NCCF and NAFED to procure 5 lakh tonnes of onion to meet the country's buffer needs directly from farmers during the ongoing 2024 Rabi
- by B2B Desk 2024-04-04 11:39:10
New Delhi, April 4 (IANS) The government has approved the export of 10,000 tonnes of onions to the UAE through the National Cooperative Exports Limited (NCEL) as a friendly gesture ahead of the Eid festival.
On March 26, he directed NCCF and NAFED to procure 5 lakh tonnes of onion to meet the country's buffer needs directly from farmers during the ongoing 2024 Rabi harvest.
The Rabi onion crop is critical to the country's onion availability as it accounts for 72-75 percent of the country's annual production. Rabi onions are also crucial to ensure year-round availability of onions as they have a better shelf life compared to Kharif onions and can be stored till November-December.
The Department of Consumer Affairs through NAFED and NCCF has procured about 6.4 lakh metric tonnes of onions during 2023-24 for backup storage as well as for prompt intervention through simultaneous procurement and disposal.
Continued procurement by NAFED and NCCF has ensured favorable prices for onion farmers through 2023 while keeping consumer interests in mind.
Also Read: India’s surging influencer marketing industry to hit 3,375 cr by 2026
The order, issued by the Directorate General of Foreign Trade (DGFT) late on Tuesday, is over 14,400 tonnes of onions to be exported to the UAE in March. This was done by Ncel, which he put there. a ceiling quantity of 3,600 metric tons for each quarter.
As much as 79,150 tons of onions have already been approved for export to meet the promises made to friendly countries when the ban was announced on December 8, 2023, to control domestic prices.
The El Niño-induced global supply and drought scenario has required the government to introduce a standard measure to regulate onion exports in the fiscal year 2023-24. These measures include a 40 percent duty on onion exports from August 19, 2023, a minimum export price of USD 800 per tonne from October 29, 2023, and an export ban from December 8, 2023. Domestic consumers at affordable prices.
With onion prices rising, the central government has released the staple vegetable from its buffer stocks.
The Rabi onion crop is critical to the country's onion availability as it accounts for 72-75 percent of the country's annual production. Rabi onions are also crucial to ensure year-round availability of onions as they have a better shelf life compared to Kharif onions and can be stored till November-December.
The Department of Consumer Affairs through NAFED and NCCF has procured about 6.4 lakh metric tonnes of onions during 2023-24 for backup storage as well as for prompt intervention through simultaneous procurement and disposal.
Continued procurement by NAFED and NCCF has ensured favorable prices for onion farmers through 2023 while keeping consumer interests in mind.
Also Read: India’s surging influencer marketing industry to hit 3,375 cr by 2026
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