Business Briefs

‘Removal of 20% export duty on onion to boost farmers’ income’

New Delhi: The government’s decision to withdraw 20 per cent customs duty on onion exports effective April 1 will boost farmers’ income, Agriculture Minister Shivraj Singh Chouhan said on Monday. “There will be no duty on onion export so that onion grown by our farmers with hard work reaches the global markets, and they can get better price and remunerative price,” he said in a video statement. The minister said the export duty was earlier fixed at 40 per cent, but was reduced to 20 per cent when onion prices started falling and farmers began getting lower returns.

GI-tagged Dalle Chilly from Sikkim exported to Solomon Islands

New Delhi: A consignment of GI-tagged Dalle Chilly from Sikkim has been shipped to the Solomon Islands, an official statement said on Monday. Dalle Chilly, also known as Fire Ball Chilly or Dalle Khursani, is renowned for its intense pungency, bright red colour, and high nutritional value (vitamins A, C, and E, along with potassium). “Through its extensive procurement network, Mevedir sourced about 15,000 kg of fresh Dalle Chilly from farmers and FPOs in South Sikkim. This consignment ensured farmers received a premium price of Rs 250-300 per kg against the usual Rs 180-200 per kg,” Commerce Ministry said.

Gold plunges Rs 700 to Rs 90,550/10 gm

New Delhi: Gold prices plunged Rs 700 to Rs 90,550 per 10 grams in the national capital on Monday amid persistent selling by the jewellers and stockists, according to the All India Sarafa Association. Besides, traders continued to liquidate long positions and book profit after a recent rally amid hopes for a potential Russia-Ukraine peace deal in view of talks between Ukrainian and US officials on Sunday in Saudi Arabia, to end three years of conflict. Silver prices, however, rose by Rs 200 to Rs 1,00,500 per kg from Friday’s closing level of Rs 1,00,300 per kg.