Centre Lifts Minimum Export Price on Onions to Boost Exports
By : DC Correspondent
Update: 2024-09-13 13:38 GMT
New Delhi: The Centre on Friday removed a minimum export price or MEP with immediate effect that it had set previously for exports of onion as it looked to pass on the benefit of international glut to Indian farmers, a government notification said.
“The minimum export price condition on export of onions is removed with immediate effect and until further orders,” the directorate general of foreign trade (DGFT) said in a notification, aiming to help promote exports of the commodity. The move comes ahead of assembly elections in Maharashtra, a key onion producing state.
The government had previously fixed a $550 per tonne as the MEP, which essentially meant farmers could not sell their produce overseas at lower than this rate.