Govt hikes minimum export price of onion to $425 per tonne

Zee Media Bureau

New Delhi: The government on Friday hiked the minimum export price (MEP) of onion to USD 425 per tonne to improve the domestic supply and curb prices.

In April, the government had slashed the minimum export price (MEP) of onion by USD 50 per tonne to USD 250 per tonne.

The MEP is the rate below which no exports are allowed.

India produces around 17-18 million tonnes of onion a year. The country exported 13.58 lakh tonnes of onion in 2013-14.

Onion exports declined by 21 percent to over 7.76 lakh tonnes during April-December period of 2014-15 financial year mainly due to price restrictions imposed on outbound shipments.

With Agency Inputs