Potato exports jump over 2-fold at 2.5 lakh tonne
24 March 2015 11:20 PM GMT
India's potato exports jumped more than two-fold during April-December period of this fiscal to 2.5 lakh tonnes.
The country had exported 1.18 lakh tonnes in the year-ago period. According to data compiled by the National Horticultural Research and Development Foundation (NHRDF), potato exports stood at 2,50,781 tonnes during April-December of 2014-15 fiscal against 1,18,158 tonnes in the corresponding period of the previous fiscal. In value terms, potato exports increased to Rs 595.65 crore from Rs 140.72 crore during the period under review.
During the entire 2013-14 fiscal, potato exports were 1,66,642 tonnes worth Rs 209.31 crore. India's potato production in 2014-15 is estimated at 421 lakh tonnes. Potato exports are likely to rise further as the Centre had last month removed the minimum export price (MEP) on this key vegetable. The MEP on potato was imposed in June 2014 at $450 per tonne to increase domestic availability and cool prices.
"Keeping in view of the prevailing lower prices and higher domestic availability of potato, the government has decided to remove the MEP on export of potato," the Commerce Ministry had said in a statement.
"The removal of existing MEP on potato will help farmers in realising better and remunerative prices and would also help the exporters in earning valuable foreign exchange for the country through exports," it had said.
The country had exported 1.18 lakh tonnes in the year-ago period. According to data compiled by the National Horticultural Research and Development Foundation (NHRDF), potato exports stood at 2,50,781 tonnes during April-December of 2014-15 fiscal against 1,18,158 tonnes in the corresponding period of the previous fiscal. In value terms, potato exports increased to Rs 595.65 crore from Rs 140.72 crore during the period under review.
During the entire 2013-14 fiscal, potato exports were 1,66,642 tonnes worth Rs 209.31 crore. India's potato production in 2014-15 is estimated at 421 lakh tonnes. Potato exports are likely to rise further as the Centre had last month removed the minimum export price (MEP) on this key vegetable. The MEP on potato was imposed in June 2014 at $450 per tonne to increase domestic availability and cool prices.
"Keeping in view of the prevailing lower prices and higher domestic availability of potato, the government has decided to remove the MEP on export of potato," the Commerce Ministry had said in a statement.
"The removal of existing MEP on potato will help farmers in realising better and remunerative prices and would also help the exporters in earning valuable foreign exchange for the country through exports," it had said.
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