India Imposes 40% Duty On Onion Exports As Prices Rise

India has imposed a substantial duty on onion exports

New Delhi:

The government has imposed 40 per cent duty on onion exports till December 31 this year, the Finance Ministry said.

The duty is applicable immediately, it said.

The move comes as onion prices continue to rise this month. Reports said onion prices are likely to keep rising in September.

Tomato prices, on an average, also registered a further increase in August so far, although more recent data indicate some pullback in rates, the Reserve Bank of India (RBI) said in its bulletin on Thursday.

Onion and potato prices also registered sequential increase, the bulletin said.