The government has imposed a minimum onion export price of 850 US dollars per tonne to curb its exports and help bring down domestic prices. A notification to this effect was issued by the Directorate General of Foreign Trade yesterday. The Minimum Export Price is the rate, below which no exports are allowed.
The Centre had last month warned of strict action against hoarding of onion. Floods in major onion producing states, including Maharashtra and Karnataka, raised fears of supply disruption. The country exports on an average 15 lakh tonnes of onions a year. India produces around 17 to 18 million tonnes of onion per year.
State-owned MMTC has barred suppliers from importing onions from Pakistan and modified its tender for import of 2,000 tonnes of onions accordingly. It said, the bidder should import onions from any country excluding Pakistan. MMTC has been asked to import onions to improve domestic supply and check any rise in its prices.
WhatsApp us