Govt to impose $700-800/tonne MEP on onion to curb exports

Posted by Daily Shipping Times on 22-11-2017        Tweet

NEW DELHI: The Centre is mulling over re- imposing a minimum export price (MEP) of USD 700-800 per tonne on onion to curb exports and check local prices, a Government source said.

MEP is the minimum rate below which export is not allowed. Onion MEP was scrapped in December 2015. In a meeting called by the Commerce Ministry, the MEP issue was discussed in detail with exporters and other stakeholders besides officials of Consumer Affairs Ministry.

"In the meeting, it has been decided to impose the MEP to restrict onion exports and control spiralling domestic prices," the Government source.

The export floor price has not yet been decided. It could be between USD 700 and USD 800 per tonne. A final notification in this regard will be issued soon, the source added.

Supplies got exhausted as large quantity of exports were undertaken in the first four months of this fiscal. The Country exported 12.29 lakh tonnes in April-July of this fiscal, up by 56 per cent from the year-ago period.