Centre bans Onion export to check rising prices
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The ban will be in place until further orders
AgriNation Staff
New Delhi. 29.09.2019
Centre on Sunday banned the export of all varieties of onions with immediate effect in an effort to rein in mounting prices of onion. The ban will be in place until further orders, according to a notification issued by the Ministry of Commerce and Industry.
“In view of sustained high price of onion in the market, the central government today took several steps to contain its prices, namely imposition of stock limit on traders, ban on exports, and state governments will take strict measures to prevent hoarding,” the Consumer Affairs Ministry said in a statement.
Prohibition on exports of any commodity increases supply in the domestic market, thus resulting in falling of prices.
According to Business Standard, onion prices touched the highest levels in four years last week.