Government removes minimum export price condition for onions

The government has removed the minimum export price condition for onions, making exports of the key agri item more competitive globally."The Minimum Export Price (MEP) condition on Export of onions is removed with immediate effect and until further orders," said a notification from the Directorate General of Foreign Trade (DGFT) on September 13.

The government had in May this year lifted a ban on onion exports but imposed a minimum export price of US$ 550 per metric tonne.

Commerce and Industry Minister Piyush Goyal said that now, with the removal of the condition of MEP and the export duty being reduced from 40% to 20%, more quantity of onion can be exported."This decision, which will increase the income of farmers and exporters, will give a huge boost to trade in the agricultural sector," the minister said in a post on 'X.' (UNI)

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