India to export onions to Sri Lanka, Bangladesh, UAE, 3 other countries
Additionally, the government has approved the export of 2,000 MT of white onion, a special variety cultivated for export markets, particularly in the Middle East and Europe.
The Centre has authorised the export of 99,150 metric tonnes (MT) of onions to Bangladesh, the UAE, Bhutan, Bahrain, Mauritius, and Sri Lanka.
The National Cooperative Exports Limited (NCEL) will be responsible to source the onions, through an online platform and ensure they reach designated agencies in the recipient countries. Export prices will consider prevailing market rates in both India and the destination countries. The quotas for each nation will be fulfilled based on their specific requests.
Maharashtra, India's leading onion producer, will be the primary source for these exports.
Additionally, the government has approved the export of 2,000 MT of white onion, a special variety cultivated for export markets, particularly in the Middle East and Europe.
To ensure domestic price stability, the government has set a procurement target of 500,000 MT of onions for the Price Stabilization Fund (PSF) buffer. Central agencies are collaborating with local farmer organizations to facilitate procurement and storage.
Furthermore, the Department of Consumer Affairs is implementing measures to minimize storage losses. This year, over 5,000 MT of onions will be irradiated and cold-stored, a significant increase from the previous year's pilot program. This initiative, supported by Bhabha Atomic Research Centre (BARC) Mumbai, aims to reduce storage losses below 10 per cent.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Senior Citizen Latest FD Rates: Know what major banks like SBI, PNB, Canara Bank, HDFC Bank, ICICI Bank are providing on fixed deposits
Gratuity Calculator: Rs 38,000 as last-drawn basic salary, 5 years and 5 months of service; what will be gratuity amount?
Retirement Planning: In how many years your Rs 25K monthly SIP investment will grow to Rs 8.8 cr | See calculations
Top 5 Small Cap Mutual Funds with best SIP returns in 1 year: See how Rs 25,000 monthly investment has grown in each scheme
Top 7 SBI Mutual Funds With Best SIP Returns in 1 Year: Rs 25,000 monthly SIP investment in No.1 fund has jumped to Rs 3,58,404
SBI 5-Year FD vs MIS: Which can offer higher returns on a Rs 2,00,000 investment over 5 years? See calculations
03:59 PM IST