According to trade sources, the central government is considering a rollback of the 40% export duty imposed on Bangalore rose onions and Krishnapuram rose onions grown in Karnataka and Andhra Pradesh, respectively.
On August 19, the government implemented a 40% duty on all varieties of onions exported from India in an effort to control the surging onion prices. Market sources noted that this move led to an approximately 70% decline in onion exports.
Meanwhile, during a meeting convened on Monday, traders based in Nashik resolved to prolong their ongoing onion strike, which commenced on September 20. It is improbable that this will have any significant impact on onion prices within the nation.
The Agri Commodities Exporters’ Association, acting on behalf of rose onion exporters, has formally appealed to the government to permit the export of 10,000 tonnes of Bangalore rose onions and Krishnapuram rose onions without imposing export duties during the period from October to December.