Govt Reduces Customs Duty on Onion Imports to Zero

Brown and white onions                                             
With onion prices skyrocketing to as much as Rs 85 per kg in some retail markets, the government on Wednesday said it has brought down customs duty on imports of the commodity to zero from 5 per cent. "The customs duty on onions has been brought down to zero," finance secretary Ashok Chawla told reporters here today. The step comes amid a sharp rise in the price of onions up to Rs 70-85 per kg in retail markets across the country from just Rs 35-40 a few days ago on account of damage suffered by crops in the key-producing states of Maharashtra, Gujarat and a few southern states due to excessive rains, which had led to large-scale hoarding by some traders. To read full story from source click here