India caps minimum export price of onion at USD 850 per tonne
24 Nov 2017, 13:24
In order to maintain stock of onions in the domestic market, the Indian government fixed the minimum export price (MEP) of onion at USD 850 per tonne.
The same was notified by India’s Minister for Consumer Affairs, Food and Public Distribution Ram Vilas Paswan, who tweeted that the step is being taken in order to ensure domestic availability of onion and to discourage cheap export from the country, reports the ANI news agency.
Two weeks ago, in a move to keep a check on the prices of onions in the market, the Ministry of Consumer Affairs, Food and Public Distribution stated that the import of onions would take place through a government agency hereafter.
In a bid to augment the availability of onions in the market, the decision was taken during a meeting of the Price Stabilisation Fund Management Committee (PSFMC), headed by Avinash K Srivastava, Secretary, Consumer Affairs.
Additionally, it was also decided that the National Agricultural Cooperative Marketing Federation of India Limited (NAFED) and Small Farmers' Agribusiness Consortium (SFAC) would procure 10,000 MT and 2,000 MT onions respectively from producing areas, including Delhi, and supply it to consuming areas to enhance its availability and help regulate prices.