Bangalore Rose Onions Get Exemption From Export Duty: Check Details Here

The Finance Ministry on Friday waived export taxes on Bangalore rose onions with immediate effect, subject to certain conditions.

As per a notification issued Friday, the exemption from export duty on Bangalore Rose Onion may be granted if the exporter furnishes a certificate from the state horticulture commissioner certifying the item and quantity of Bangalore Rose Onion to be exported.

The government levied a 40% duty on the export of all varieties of onions in August to increase domestic availability and control price rises in the local market.

Official data showed that India's consumer price index (CPI) based inflation stood at 7.44% in the month of July, higher than the Reserve Bank of India's (RBI) upper tolerance limit of 6%, driven by high food and vegetable prices.

The data from the Consumer Affairs Department revealed that as of date, the average price of onions in the country stood at Rs 33.53.

Breaking past record, the Central government has procured 2.50 lakh tons of onion for the buffer in 2022-23. However, despite the adequate stock of onions in the country, a greater proportion of bad quality on account of a prolonged period of excessive summer heat this year has made good quality onions costlier.

Meanwhile, onion exports rose 64% in volumes to reach a six-year high at 25.25 lakh tonnes during 2022-23.