India Removes Minimum Export Price on Onion
Sep 13, 2024 18:03
The Indian government has removed the minimum export price (MEP) for onions, aiming to boost exports and benefit farmers.
Photograph: ANI Photo
New Delhi, Sep 13 (PTI) The government on Friday scrapped a minimum price threshold that it had set previously for exports of onion as it looked to pass on the benefit of international glut to Indian farmers.
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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