Tridge — India Imposes 40% Export Duty on Onions to Curb Rising Prices
Aug 25, 2023
In response to surging domestic onion prices and the need to secure a stable supply for its citizens, India, renowned as the world’s largest exporter of onions, has swiftly implemented a 40% export duty on onions, effective until December 31. This significant development aims to address the immediate concerns of escalating onion costs within the nation, especially with crucial state elections looming later this year. However, this move carries broader implications for the Asian region. While it may alleviate India’s concerns about local onion prices, it places additional financial burdens on Asian buyers, given that other regional exporters have limited onion supplies.
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