{"id":19435,"date":"2023-10-31T14:05:05","date_gmt":"2023-10-31T14:05:05","guid":{"rendered":"https:\/\/www.selinawamucii.com\/news\/?p=19435"},"modified":"2023-10-31T14:05:07","modified_gmt":"2023-10-31T14:05:07","slug":"india-sets-insurmountable-export-price-floor-on-onion-exports","status":"publish","type":"post","link":"https:\/\/www.selinawamucii.com\/news\/2023\/10\/31\/india-sets-insurmountable-export-price-floor-on-onion-exports\/","title":{"rendered":"India sets insurmountable export price floor on onion exports"},"content":{"rendered":"\n

Till end 2023, the minimum price for India\u2019s onion exports will stop at\u00a0$800\/ton<\/u><\/a>, the government warned October 28, to bolster home supplies.\u00a0<\/p>\n\n\n\n

From October 31 to December 31, 2023 all freight-on-board (FOB) onion shipments will have to adhere to the new regulation.<\/p>\n\n\n\n

Delhi cites the insufficient harvest from the rabi crop (winter season) as inadequate to meet home demand, hence the precaution.<\/p>\n\n\n\n

The announcement follows an August, 2023 injection of 40% duty<\/u><\/a> on India\u2019s onion exports, again to curb outbound shipments. <\/p>\n\n\n\n

A government official stated that the duty barely deters exports since suppliers recover the costs abroad where onions are costlier.\u00a0<\/p>\n\n\n\n

The new minimum export price (MEP) of 67 rupees,<\/u><\/a> far above wholesale prices, will be nearly insurmountable for would-be-exporters. <\/p>\n\n\n\n

As an extra measure, the government has also upped its onion reserve bank from the 500,000-ton <\/u><\/a>current procurement to 700,000 tons. <\/p>\n\n\n\n

\u00a0India\u2019s next onion harvest, especially from the endowed Nashik district in Maharashtra, has delayed this monsoon (kharif) from late planting. \u00a0Interestingly, the district did ship\u00a018,000 tons<\/u><\/a>\u00a0of the crop in the first half of October despite the export tax.<\/p>\n\n\n\n

The state of onion shortage in India is already telling on street merchant prices. In this final week of October, a kg of onion retails for INR 50 to 60<\/u><\/a> ($0.60-0.72).  This is double last week\u2019s price of INR 25-30 a kg in the streets of Delhi. <\/p>\n\n\n\n

Last week\u2019s highest price for onion in India was in Maharashtra, where the commodity cost 33 rupees ($0.40) a kilo. The development surprised price watchers as this onion belt region usually sets the benchmark for national onion pricing.<\/p>\n\n\n\n

So, as pressure on onions continues to rock India, the kitchen staple is meantime staying for good in its favourite country.<\/p>\n","protected":false},"excerpt":{"rendered":"

Till end 2023, the minimum price for India\u2019s onion exports will stop at\u00a0$800\/ton, the government warned October 28, to bolster home supplies.\u00a0 From October 31 to December 31, 2023 all freight-on-board (FOB) onion shipments will have to adhere to the new regulation. Delhi cites the insufficient harvest from the rabi crop (winter season) as inadequate…<\/p>\n","protected":false},"author":3,"featured_media":19436,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[],"yoast_head":"\nIndia sets insurmountable export price floor on onion exports - Selina Wamucii | Food & Agriculture News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.selinawamucii.com\/news\/2023\/10\/31\/india-sets-insurmountable-export-price-floor-on-onion-exports\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"India sets insurmountable export price floor on onion exports - Selina Wamucii | Food & Agriculture News\" \/>\n<meta property=\"og:description\" content=\"Till end 2023, the minimum price for India\u2019s onion exports will stop at\u00a0$800\/ton, the government warned October 28, to bolster home supplies.\u00a0 From October 31 to December 31, 2023 all freight-on-board (FOB) onion shipments will have to adhere to the new regulation. 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