Centre lifts minimum price limit on onion export
New Delhi: The Centre has removed the minimum price limit for onion export to boost the earnings of Indian farmers and push exports.
In a notification on Friday, the Directorate General of Foreign Trade (DGFT) lifted the Minimum Export Price (MEP) of $550 per tonne, which had previously prevented farmers from selling their produce overseas at lower rates.
The removal of the Minimum Export Price (MEP) is anticipated to benefit Indian farmers by providing access to international markets amid an onion surplus.
The decision is also seen as a strategic move ahead of assembly elections in Maharashtra, a key onion-growing state.
The DGFT's notification stated that the MEP condition is lifted "with immediate effect and until further orders," aiming to increase the export potential of onions. This policy change is expected to boost onion exports in the coming months.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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