Editor's Pick | Export ban on onion lifted

Days before the third phase of the Lok Sabha elections which will cover the onion-farming belts of Gujarat and Maharashtra, the Centre on Saturday lifted the prohibition on onion exports imposed nearly six months ago. However, it restrained the flow of outbound shipments by stipulating a minimum export price of $550 per tonne as well as a 40% export duty. The levy of duty over the minimum export price effectively pushes the price to $770 a tonne. The new conditional exports regime introduced through separate notifications by the Finance and Commerce Ministries over late Friday and early Saturday, kicks in immediately and will stay till further orders. The decision to allow 2,000 tonnes of white onion exports from Gujarat had prompted a sharp reaction from Opposition leaders. It alleged that Maharashtra farmers who mainly grow red onions had been short-changed by the Centre’s extended curbs on exports. In the recent past, major suppliers of onions globally including India, Pakistan and Egypt banned export. Egypt lifted the curbs last month while Pakistan removed the restrictions recently. Back in August last year, the Centre had imposed the 40% duty albeit for different reasons. The measures were aimed at infusing stocks into the market to stabilise prices and mitigate the demand-supply mismatch. February last year had experienced higher-than-normal temperatures. This was followed by unseasonal rainfall between late March and early-April. The two climatic occurrences corresponded with the growth cycle of the onion crop, and eventually, resulted in the demand-supply mismatch. This time around however, officials have noted that the price of onions have remained largely stable “around Rs 15 per kg since April”. The Hindu Explains Will R&AW’s overseas operations affect ties? Significance of Boeing Starliner’s first crewed test flight on May 7 The Hindu’s Daily News Quiz Who has the Congress party fielded as its candidate for the Amethi constituency in UP? Rahul Gandhi Robert Vadra Jairam Ramesh Kishori Lal Sharma To know the answer and to play the full quiz, click here. [logo] Editor's Pick 05 May 2024 [The Hindu logo] [EP Logo] Editor's Pick 05 May 2024 In the Editor's Pick newsletter, The Hindu explains why a story was important enough to be carried on the front page of today's edition of our newspaper. [View in browser]( [More newsletters]( Export ban on onion lifted Days before the third phase of the Lok Sabha elections which will cover the onion-farming belts of Gujarat and Maharashtra, the [Centre on Saturday lifted the prohibition on onion exports]( imposed nearly six months ago. However, it restrained the flow of outbound shipments by stipulating a minimum export price of $550 per tonne as well as a 40% export duty. The levy of duty over the minimum export price effectively pushes the price to $770 a tonne. The new conditional exports regime introduced through separate notifications by the Finance and Commerce Ministries over late Friday and early Saturday, kicks in immediately and will stay till further orders. The decision to allow 2,000 tonnes of white onion exports from Gujarat had prompted a sharp reaction from Opposition leaders. It alleged that Maharashtra farmers who mainly grow red onions had been short-changed by the Centre’s extended curbs on exports. In the recent past, major suppliers of onions globally including India, Pakistan and Egypt banned export. Egypt lifted the curbs last month while Pakistan removed the restrictions recently. Back in August last year, the Centre had imposed the 40% duty albeit for different reasons. The measures were aimed at infusing stocks into the market to stabilise prices and mitigate the demand-supply mismatch. February last year had experienced higher-than-normal temperatures. This was followed by unseasonal rainfall between late March and early-April. The two climatic occurrences corresponded with the growth cycle of the onion crop, and eventually, resulted in the demand-supply mismatch. This time around however, officials have noted that the price of onions have remained largely stable “around Rs 15 per kg since April”. The Hindu Explains [Arrow][Will R&AW’s overseas operations affect ties?]( [Arrow][Significance of Boeing Starliner’s first crewed test flight on May 7]( The Hindu’s Daily News Quiz Who has the Congress party fielded as its candidate for the Amethi constituency in UP? - Rahul Gandhi - Robert Vadra - Jairam Ramesh - Kishori Lal Sharma To know the answer and to play the full quiz, [click here](. 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