Govt may impose $650 per tonne MEP on onion exports

Govt may impose $650 per tonne MEP on onion exports
Highlights

Govt fixes $650 per tonne as MEP on onion exports - Worried over spiraling onion prices, the government is likely to impose a minimum export price (MEP) of $650 per tonne on the commodity to curb shipments and control prices. In May last year, the government had scrapped fixing MEP, which is a benchmark price below which onion could not be exported.

Worried over spiraling onion prices, the government is likely to impose a minimum export price (MEP) of $650 per tonne on the commodity to curb shipments and control prices. In May last year, the government had scrapped fixing MEP, which is a benchmark price below which onion could not be exported.

According to sources, an inter-ministerial meeting was held on Wednesday to take stock of the situation and find ways to control onion prices, which have soared up to Rs 80 per kg in the major cities of the country. Corporative major NAFED has suggested to the Commerce Ministry to fix MEP at around $650-700 per tonne and explore ways to facilitate imports of good quality onion.

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