Big announcement by Government of India, 40 percent export duty imposed on onion
Onion Export News: There is a lot of fluctuation in the prices of many crops in the country. This also includes onion. The government on Friday imposed 40 percent duty on onion export. Along with this, the government decided to exempt from duty on import of indigenous gram till March 31, 2025. Apart from this, duty exemption on import of yellow peas through ‘Bill of Entry’ issued on or before October 31, 2024 has also been extended.
‘Bill of Entry’ is a legal document that is filed with importers or customs clearance agents on or before the arrival of imported goods. The Finance Ministry said in a notification that all these changes will be effective from May 4.
At present there is a ban on export of onion. However, the government allows exports to India’s friendly countries. It has allowed a certain quantity of onion export to the United Arab Emirates and Bangladesh. In August last year, India had imposed 40 percent export duty on onion till December 31, 2023.
