Central government exempts export duty on 'Bangalore rose onion'
'Bangalore rose onion' is distinct variety cultivated around Bengaluru
It obtained the prestigious Geographical Indication (GI) tag in 2015
The Central government has granted an exemption from export duties on ‘Bangalore rose onion,’ along with a specific requirement.
According to an official notification from the Ministry of Finance, goods intended for export can be shipped without duty, provided that the exporter presents a certificate from the Horticulture Commissioner of the Government of Karnataka, confirming the type and quantity of Bangalore Rose Onion to be exported. This notification has been implemented immediately.
Bangalore rose onion is a distinct onion variety cultivated in and around Bengaluru, Karnataka. It obtained the prestigious Geographical Indication (GI) tag in 2015.
In August, the government imposed a 40% duty on onion exports to control price increases and enhance domestic supply until December 31, 2023.
As Rabi onions, harvested from April to June, that make up 65% of India’s onion production meet consumer demand until the Kharif crop is harvested in October-November, the government has exempted export duties.
The central government had previously decided to maintain a buffer stock of 3 lakh tonnes of onions for the 2023-24 season. This buffer stock is kept to address any unforeseen circumstances and to stabilize prices in case they significantly rise during the period of low supply.
Central government exempts export duty on 'Bangalore rose onion'
'Bangalore rose onion' is distinct variety cultivated around Bengaluru
It obtained the prestigious Geographical Indication (GI) tag in 2015
The Central government has granted an exemption from export duties on ‘Bangalore rose onion,’ along with a specific requirement.
According to an official notification from the Ministry of Finance, goods intended for export can be shipped without duty, provided that the exporter presents a certificate from the Horticulture Commissioner of the Government of Karnataka, confirming the type and quantity of Bangalore Rose Onion to be exported. This notification has been implemented immediately.
Bangalore rose onion is a distinct onion variety cultivated in and around Bengaluru, Karnataka. It obtained the prestigious Geographical Indication (GI) tag in 2015.
In August, the government imposed a 40% duty on onion exports to control price increases and enhance domestic supply until December 31, 2023.
As Rabi onions, harvested from April to June, that make up 65% of India’s onion production meet consumer demand until the Kharif crop is harvested in October-November, the government has exempted export duties.
The central government had previously decided to maintain a buffer stock of 3 lakh tonnes of onions for the 2023-24 season. This buffer stock is kept to address any unforeseen circumstances and to stabilize prices in case they significantly rise during the period of low supply.