Govt Imposes $650 Per Tonne Mep On Onion

NEW DELHI (TIP): Government on August 14 imposed a minimum export price (MEP) of $650 per tonne on onion to curb shipments and control rising prices. In May last year, the government had scrapped fixing MEP, which is a benchmark price below which onion cannot be exported. The decision regarding $650 per tonne MEP was taken in an inter-ministerial meeting. “MEP on onion was fixed at $650 per tonne at free on board,” a commerce ministry official said. Onion prices have soared to Rs 80 per kg in the major cities of the country.

Wholesale price of onion have increased in the Lasalgaon market in Nasik by Rs 1 per kg to Rs 46 and by Rs 5 to Rs 50-55 per kg in Delhi’s Azadpur mandi. India has exported 6.39 lakh tonnes during April-July period of this fiscal compared with 6.94 lakh tonnes in the year-ago period. Production stood at 16.6 million tonnes in 2012-13. Maharashtra, Karnataka and Gujarat are the main producing regions of onions.

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