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Govt lifts ban on onion exports w.e.f. 15 March

The Ministry of Commerce & Industry on Monday said that the curbs on onion exports will be lifted from 15 March. On 29 September, the government had banned exports and enforced countrywide stock limits on onion to bring down the soaring prices of the vegetable that had ascended ahead of state elections in Maharashtra and Haryana. Supply disruptions of the commodity had occurred  after floods in some states.

Onion price inflation according to the Wholesale Price Index peaked in December at 455.8% and decelerated to 293.4% in January. The daily price report by National Horticulture Board reveals that retail price in Delhi on 29 February stood at INR 40 against INR 50 on 1 February.

Food Minister Shri Ram Vilas Paswan tweeted: “Expected monthly harvest (of onion) in March is over 40 lakh MT compared to 28.4 lakh MT last year.”