New Delhi: A Delhi Court has held that Samir Modi is not entitled to perpetually continue as a Director of Godfrey Philips India exported 2.6 lakh tonne of onions till July of this fiscal year, the government said on Wednesday.
“Government has lifted the onion prohibition from 4th May, 2024 and allowed the export with minimum export price of (MEP) of USD 550 per tonne and export duty of 40 per cent. “Till 31st July, 2024, a total quantity of 2.60 lakh tonne of onion had been exported in current financial year 2024-25,” Minister of State for Food and Consumer Affairs B L Verma said in a written reply in Lok Sabha. Further, he said the government had procured 4.68 lakh tonne, majorly from Maharashtra, through NCCF and NAFED for the price stabilisation buffer.
India had exported 16.07 lakh tonne of onions in the last fiscal.The average procurement price of onion for the buffer in current year was Rs 2,833 per quintal, which is 64 per cent higher than the procurement price of Rs 1,724 per quintal last year.