Relief for big onion prices as special commodity levy rate reduced

 

Accordingly, increasing the ability to buy big onions in the market will help to reduce the price of big onions.

The average CIF of Imported big onions was Rs. 95.3 per kg in the third week of November and it has only shown a relatively modest increase since mid-August 2022.

This drop in availability pushed up the price of imported big onions from about Rs. 175/kg in August to Rs. 328/kg in week 3 of November. Hence, the sudden hike in prices can be attributed to the increase in the SCL rate in September.

The price (CIF value) has increased only marginally, and the reason for this sudden price increase may be the increase in the rate of Special Commodity Duty (SCL) in September."