Exports: Traders fear 50% dip in exports due to 40% duty

👁️ Post Views: 133,199

NASHIK: The Centre’s decision to impose 40% duty on onion exports till December 31, 2023, may cause India’s onion export volume to drop by about 50%, fear exporters, reports Tushar Pawar. Usually, India exports 2.5 lakh tonnes of onions each month. Almost 90% of the onion exports are from Maharashtra, and more than 70% from Nashik district alone. Exporters said the Centre’s decision will hit both the farmers and traders within the country and abroad. According to exporters, onion wholesale price is still at a lower level and it will drop further because of the 40% duty. Farmers will not be able to get a proper price for their produce.