Govt ends onion export ban, sets minimum price at $550 per tonne
THE JHARKHAND STORY DESK Advertisement New Delhi, May 4: The government ended the prohibition on exporting onions on Saturday but enforced…
Image: Odisha TV
THE JHARKHAND STORY DESK
New Delhi, May 4: The government ended the prohibition on exporting onions on Saturday but enforced a minimum export price (MEP) of USD 550 per tonne.
This decision holds importance considering the political sensitivity of the commodity, especially amidst ongoing general elections in the country.
The Directorate General of Foreign Trade (DGFT) released a notification stating, “The export policy of onions is amended from prohibited to free subject to MEP of USD 550 per metric ton with immediate effect and until further orders.”
Yesterday, the government implemented a 40 per cent duty on onion exports.
In August of the previous year, India enforced a 40 percent export duty on onions until December 31, 2023.
