 "Onion (Photos by : Kamlesh Pednekar)")
After the central government imposed a 40 per cent duty on the export of onions, Union Agriculture and Farmers Welfare Minister Narendra Singh Tomar on Saturday said that farmers do not have to worry on the onion issue.
"No farmer needs to worry on the onion issue. Keeping the future conditions in mind, the central government has made a decision, but there is also a guarantee that no farmer gets low prices, special arrangements have been made for it," Tomar said.
"NAFED is buying the onions. It is providing good rates to the farmers," he added.
Earlier on August 19, the government imposed a 40 per cent duty on the export of onions to check price rise and improve supplies in the domestic market till December 31, 2023.
The Finance Ministry issued a notification stating that they have imposed a 40 per cent export duty on onions till December 31, 2023.
"Government imposes 40 per cent duty on onion exports till December 31," the Ministry stated.
The export duty comes amid reports that onion prices are likely to rise in September.
The central government had earlier decided it would maintain 3 lakh tonne of onions in the 2023-24 season as buffer stock. In 2022-23, the government maintained 2.51 lakh tonne onion as buffer stock.
Buffer stock is maintained to meet any exigencies and for price stabilisation, if rates go up significantly during the lean supply season.
The procured stocks are usually released through targeted open market sales and also to states and Union territories and government agencies for supplies through retail outlets during the lean supply season.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
