A minimum export price of $800 per tonne was fixed for onion till December

New Delhi: To increase the availability of onion in the domestic market and control the price, the government has fixed the minimum export price (MEP) of USD 800 per tonne on its export till December 31. This decision has been implemented.

Apart from this, the government has also announced procurement of additional 2 lakh tonnes of onion for buffer stock, which will be in addition to the 5 lakh tonnes already procured. MEP exists for all onion varieties except Bengaluru rose and Krishnapuram onion.

The Directorate General of Foreign Trade said in a notification that the MEP for onion exported abroad has now been increased to $800 per tonne till December 31, 2023.

This move will help in maintaining adequate availability of onions at affordable prices for domestic consumers as the stocks of onions for Ravi 2023 are depleting. 800 dollars per tonne MEP for onion is about Rs. 67 per kg.

So far, about 1.70 lakh tonnes of onions have been disposed of from the buffer stock. Continuous purchase and disposal of onions from buffer stock is done to control prices to consumers and ensure remunerative prices to onion farmers. Onion prices in the national capital's retail market have shot up to Rs 65-80 per kg due to low supply.