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Govt imposes $850/tonne MEP on onion exports

Govt imposes $850/tonne MEP on onion exports

New Delhi: The government on Friday imposed a minimum onion export price of USD 850 per tonne to curb its shipments and help bring down spiralling domestic prices.

Onion prices have risen to about Rs 40-50 per kg in the national capital from Rs 20-30 per kg a few days back.

"Export of all varieties of onions...will be allowed only on letter of credit subject to a minimum export price of USD 850 FOB (freight on board) per metric ton till further orders," the Directorate General of Foreign Trade (DGFT) said in a notification.

The country exports on an average of 15 lakh tonnes of onions a year.

India produces around 17-18 million tonnes of onion per year.

Agencies

Agencies

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