In a bid to encourage export, the government announced that the minimum export price (MEP) for all varieties of onions will be abolished.
Commerce Minister, Suresh Prabhu had informed this through a tweet recently. “The requirement of Minimum Export Price on export of onions has been removed. All varieties of onions can now be exported. We are taking all measures to promote exports of agriculture products.”
The Directorate General of Foreign Trade said in a press release that the requirement of MEP on export of onions stands omitted till further orders.
It also stated that all varieties of onions can now be exported without any MEP.
Towards the end of last year, onion prices saw an all-time rise in markets, which left consumers frothing with onion prices touching as high as Rs 45 per kilo.
The Government in November, had fixed the MEP of onions at USD 850 per tonne, in order to maintain stocks in the domestic market.