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economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
Erratic policy-making: Why it’s time to rethink onion export controls
The Problem with India’s Onion Export Policies
India’s approach to controlling onion exports has been inconsistent, resulting in price volatility and disruptions in the supply chain. The government has imposed a ban on onion exports three times in the past five years, accompanied by MEP and high export duties (refer to table 1). This erratic policy-making benefits neither consumers nor farmers.
Export restrictions over the past five years:
Export Control Measure
September 29, 2019
Imposed a ban on onion exports to address sustained high prices, which was lifted on February 26,2020
September 13, 2020
Reimposed a ban on onion exports due to supply shortages from heavy rainfall damaging crops in key growing states, which was lifted on January 1,2021
December 8, 2023
Banned onion exports until March 31, 2024, to ensure adequate domestic availability amid lower crop estimates
April 26, 2024
Allowed the export of 99,150 metric tonnes of onions to six neighbouring countries, including Bangladesh and Bhutan, despite the ongoing export ban
May 4, 2024
Removed restrictions on onion exports, setting a minimum export price (MEP) of $550 per metric tonne and an export duty of 40%
September 16, 2024
Removed the minimum export price on onions and reduced export taxes to 20% from 40% to support farmers ahead of local elections
September 23, 2024
Announced plans to release onions from government reserves to control rising domestic prices following the removal of the export floor price
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