India imposes a 40% export duty on onions
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 23 August 2023
⏱️ 7 minutes
🧾️ Download transcript
Summary
From the BBC World Service: India, the world’s largest onion exporter, has imposed a 40% export duty on onions. It’s an attempt to improve domestic availability and rein in soaring food price inflation. Israel’s political lurch to the right and its controversial plans to overhaul the justice system could be starting to have a direct impact on its population, with one in three Israelis now thinking of emigrating. India could make history if its third lunar mission successfully touches down near the moon’s south pole.
Transcript
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| 0:00.0 | Why is India putting a 40% export tax on its Onions, not to peel back the layers on |
| 0:06.4 | this one? |
| 0:07.4 | Hello, and you're listening to the Marketplace Morning Report, live from the BBC World |
| 0:10.8 | Service. |
| 0:11.8 | I'm Leanna Burn, a very good morning to you. |
| 0:13.8 | India has been struggling with food price inflation, particularly hitting vegetables. |
| 0:18.4 | Now to combat this and secure the food supply, it will impose a 40% export duty on Onions |
| 0:23.9 | this year. |
| 0:24.9 | It's actually the world's largest exporter of the vegetable, but because of rising inflation, |
| 0:29.9 | it's a pressure on the government to take action. |
| 0:32.2 | Let's speak to the BBC's India Business correspondent, Archana Shukla, how's it going, Archana? |
| 0:36.4 | Hey, hi, all well here. |
| 0:38.4 | Archana, I wanted to ask you why such a high export tax on Onions, what's going on in |
| 0:44.0 | India? |
| 0:45.0 | Well, this is certainly from the point of view to keep rising food prices in check. |
| 0:49.6 | Onions is a kitchen staple in India and in the recent times has seen a spike in prices. |
| 0:55.0 | At a time when the availability of the crop has been affected due to erratic weather patterns, |
| 0:59.8 | this at a time when India's food inflation is at its 15-month high and while onion prices |
| 1:06.4 | have gone up, there has also been a trend of exceptionally high exports this year, which |
| 1:11.2 | is also pushing prices high. |
| 1:12.6 | Yeah, I mean, as you mentioned overall, there really seems to be a problem with the price |
| 1:16.2 | of food and Indian inflation. |
... |
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