AgroStar Krishi Gyaan
14 Sep 19, 01:00 PM
Krishi VaartaOutlook Agriculture
Minimum export price of $850 to control onion prices
The central government has imposed a minimum export price (MEP) of $850 per tonne on exports to control onion prices. According to the notification issued by the Directorate General of Foreign Trade, the MEP of $850 per ton will be applicable on onion exports with immediate effect. On 2 February 2018, the central government zeroed the MEP on onion exports. Earlier on 19 January 2018, MEP was imposed on its exports at $700 per tonne.
According to a senior Agriculture Ministry official, the exports of onion in the first two months of the current financial year have been only 3.52 lakh tonnes whereas, in the same period of the last financial year, the exports were 3.88 lakh tonnes. In spite of high onion production in the crop season 2018-19, the prices rose and onion prices in retail rose to Rs 45 to 50 per kg, while in the mandis it is Rs 14 to 30 per kg.
Source - Outlook Agriculture, 13 September 2019
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