India Removes Minimum Export Price on Onion
The government had previously fixed a USD 550 per tonne as the minimum export price (MEP), which essentially meant farmers could not sell their produce overseas at lower than this rate.
A DGFT notification issued on Friday removed the MEP with immediate effect.
The move comes ahead of assembly elections in Maharashtra, a key onion producing state.
The move would help promote exports of the commodity.
"The Minimum Export Price (MEP) 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.
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