Workers of a retail chain sort onions at Manchar village in Pune, India, November 11, 2019.
REUTERS/Rajendra Jadhav/File Photo Acquire Licensing RightsOct 28 (Reuters) - India has set a floor price of $800 per metric ton minimum export price on onions up to Dec. 31, the government said on Saturday, in a bid to ensure adequate domestic availability and to stabilise prices.
The government also announced procurement of 200,000 tons of onions for its buffer, over and above the 500,000 tons already procured, it said in the statement.
The south Asian nation had in August imposed a 40% export duty on onions up to Dec. 31 to improve domestic availability of the vegetable.
Reporting by Baranjot Kaur in Bengaluru and Neha Arora; editing by David EvansOur Standards: The Thomson Reuters Trust Principles.
Persons:
Rajendra, Baranjot Kaur, Neha Arora, David Evans
Organizations:
REUTERS, Thomson
Locations:
Manchar, Pune, India, Bengaluru