Onions worth USD 523.8 million were exported from April to December 2022, a 16.3 per cent increase on a yearly basis, Union Ministry of Commerce and Industry said on Sunday.
Currently, there is no restriction or prohibition on the export of onions, and the trade policy of onions is under ‘Free’ category. Only the export of onion seed is ‘Restricted’, and that too is permitted under Authorisation from the Directorate General of Foreign Trade.
Meanwhile, the government maintained a buffer stock of 2.5 Lakh Metric Tonne (LMT) in the financial year 2022-23, in case needed for market intervention.
Owing to the perishable nature of the crop, and the gap between rabi and kharif crops, onion prices often rise during the months of September to December.