Business
Government Lifts 20% Onion Export Duty Starting April 1
To secure adequate domestic supply, the government had implemented measures to regulate exports, including the imposition of duties, minimum export prices (MEP), and even a temporary prohibition on onion exports for nearly five months—from December 8, 2023, to May 3, 2024. The 20 percent export duty, which is now lifted, had been in effect since September 13, 2024.
Despite these export restrictions, total onion exports for FY 2023-24 reached 17.17 lakh metric tonnes (LMT), while for FY 2024-25 (up to March 18), exports stood at 11.65 LMT. The monthly onion export volumes increased from 0.72 LMT in September 2024 to 1.85 LMT in January 2025, according to the Ministry of Consumer Affairs, Food, and Public Distribution.
This decision reflects the government’s dedication to ensuring fair prices for farmers while keeping onions affordable for consumers at a critical time when both mandi and retail prices have decreased, attributed to the anticipated arrival of rabi crops in significant quantities.
Even though current mandi prices are higher than in previous years, there has been a notable 39 percent decrease in the all-India weighted average modal prices. Likewise, average retail prices across India have dropped by 10 percent over the past month.
Onion arrivals in key markets such as Lasalgaon and Pimpalgaon have increased this month, contributing to a decline in prices. As of March 21, 2025, the modal prices in Lasalgaon and Pimpalgaon were recorded at Rs 1330 per quintal and Rs 1325 per quintal, respectively.
According to estimates from the Department of Agriculture and Farmers Welfare, this year’s rabi onion production is projected at 227 LMT, an increase of over 18 percent compared to last year’s 192 LMT. Rabi onions, which account for 70-75 percent of India’s total onion production, are critical for ensuring overall availability and price stability until the kharif crop arrives in October/November. The anticipated higher production this season is expected to further alleviate market prices in the coming months.
This positive production and pricing outlook comes as a relief for the country, which has recently faced the dual challenges of reduced domestic production and elevated international prices since August 2023.
Egg prices in Bengaluru have increased sharply. The rate, which was ₹5 per egg a month ago, has now touched ₹7. The city is also facing a shortage in supply. Traders say that demand for eggs rises in December due to Christmas, New Year celebrations, and higher non-vegetarian consumption during winter.
Supply from Tamil Nadu has also reduced, causing further pressure on local markets. According to the Karnataka Poultry Traders Association, Bengaluru needs about 1.10 crore eggs daily, but there is a shortage of nearly 30–40 lakh eggs.
Last year’s bird flu outbreak also affected poultry farms, leading to lower production this season.
Goa has seen a similar trend. Egg prices there have increased to ₹90 per dozen, and further hikes are expected in the third week of December. Reports suggest that rates may stay high until early 2026.
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Goa depends heavily on neighboring states for its supply — around 80% from Karnataka and the rest from Maharashtra. Meanwhile, gold prices too have shown an upward trend.
Hyderabad, October 28, 2025:
Mangalore Refinery and Petrochemicals Limited (MRPL), a subsidiary of ONGC and a leading Category-I Miniratna Central Public Sector Enterprise (CPSE) under the Ministry of Petroleum and Natural Gas, has achieved yet another milestone. The company has won the Innovation Award 2024-25 for Best Innovation in Research & Development in Refining Technology at the 28th Energy Technology Meet (ETM 2025) held in Hyderabad.
This marks MRPL’s fourth consecutive victory at these prestigious national awards, reaffirming its position as a pioneer in indigenous innovation within India’s refining sector.
The award recognizes MRPL’s breakthrough “Gradual Olefins and Aromatic Technology (GOAT)”, an advanced Crude-to-Chemicals process developed entirely by the company’s in-house R&D team. The GOAT technology demonstrates India’s growing capability to transform crude oil directly into high-value petrochemicals, thereby improving energy efficiency, cutting carbon emissions, and contributing to the nation’s sustainable refining goals.
The award was presented by Shri Hardeep Singh Puri, Hon’ble Minister of Petroleum & Natural Gas, in the presence of Shri Pankaj Jain, Secretary, Ministry of Petroleum & Natural Gas. The ceremony was organized by the Centre for High Technology (CHT) at the Hyderabad International Convention Centre (HICC).
Receiving the award on behalf of MRPL were Shri Nandakumar V. Pillai (Director – Refinery), along with Chief Managers Shri Karthick R. and Shri S. Nirmal Ganesh from MRPL’s Innovation Centre.
The 28th Energy Technology Meet, themed “Green Energy Horizons: Advancing Sustainable Refining & Energy Innovation,” serves as India’s leading platform for sharing advancements in refining and clean energy technologies. Organized by CHT under the Ministry of Petroleum & Natural Gas, ETM 2025 brings together refiners, petrochemical producers, technology providers, equipment manufacturers, and service companies from India and abroad to discuss sustainable and low-carbon pathways for the energy sector.
The three-day event, held from October 28 to 30, 2025, focuses on innovations driving India’s energy transition and circular economy efforts.
Speaking after receiving the award, Shri Nandakumar V. Pillai said,
“MRPL has always been a frontrunner in adopting and developing advanced technologies. Our Innovation Centre is not only creating but also implementing breakthrough technologies like GOAT — a futuristic Crude-to-Chemicals process that many in the global refining industry are still aspiring to achieve. Winning this recognition for the fourth consecutive year reflects our team’s commitment, creativity, and technical excellence. I congratulate our Innovation Centre team and wish them continued success in future innovations.”
New Delhi: The Reserve Bank of India (RBI) has decided to keep the key policy interest rate unchanged at 5.5% for the second consecutive review. The decision was announced by RBI Governor Sanjay Malhotra after the Monetary Policy Committee (MPC) meeting on Wednesday.
The MPC voted unanimously to maintain the repo rate at 5.5% with a neutral stance. Governor Malhotra said the central bank took the step due to uncertainties over tariffs, even as inflation remains under control.
Retail inflation has stayed below 4% since February this year. It eased to a six-year low of 2.07% in August, helped by lower food prices and a favourable base effect.
The October policy comes at a time when the recent cut in Goods and Services Tax (GST) is expected to support domestic demand.
This is the fourth bi-monthly monetary policy review of the current financial year.
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