Minimum export price of onions reduced

New Delhi: The central government has reduced the minimum export price (MEP) of onions to $700 per tonne till February 20, 2018. According to a notification issued by the Directorate General of Foreign Trade (DGFT), the MEP has been reduced by $150 per tonne. “Export of all varieties of onions… will be allowed only on […]

22 Jan 2018 06:10 IST

Minimum export price of onions reduced — Inside An Onion Storehouse As India Prepares To Import Onions As Prices Surge

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New Delhi: The central government has reduced the minimum export price (MEP) of onions to $700 per tonne till February 20, 2018.

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According to a notification issued by the Directorate General of Foreign Trade (DGFT), the MEP has been reduced by $150 per tonne.

"Export of all varieties of onions... will be allowed only on Letter of Credit (LC) subject to a MEP of $700 E.O.B. per metric ton (instead of $850 F.O.B. per metric ton) with immediate effect and till 20.02.2018," said the notification issued on January 19, 2018.

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The MEP was reintroduced in November 2017 to check the rise in domestic prices.

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