FTP - Onions - Minimum Export Price again enhanced
IN September 2013, the Minimum Export Price stipulated for onions was 1150 USD, which was reduced to 150 USD in December 2013. By Notification No. 73 dated 12.03.2014, the export policy for onions was made FREE.
It was only two months ago that the minimum export price (MEP) of USD 300 per MT was fixed on the export of onions by notification 82/(RE-2013)/2009-2014 dated 17.06.2014.
The Inter-Ministerial Committee in their meeting held on 30th June, 2014, observed that the wholesale and retail prices of onion are going up in producing and consuming mandis and despite MEP at USD 300 PMT there is no appreciable decline in the exports of onion.
Keeping in view of rising retail and wholesale prices and delayed monsoon, the Committee unanimously decided to fix the MEP at USD 500 per MT FOB which translates to Rs.30.00 per kg. with a view to arrest domestic price rise and augment domestic supply. And so by Notification No. , dated: 02 July 2014, it was fixed at USD 500 per MT.
Now the domestic situation has improved and the Government has reduced the MEP to USD 300 PMT.
DGFT Notification No. 91(RE-2013)/2009-2014, Dated: August 21 2014