| Date: |
19-05-2011 |
| Subject: |
India: Govt Cuts Export Price Of Two Superior Varieties Of Onions |
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The government today slashed the minimum export price (MEP) of two superior varieties of onions sharply by USD 250 to USD 350 per tonne. "Minimum Export Price (MEP) of Bangalore Rose Onions and Krishnapuram onions will be USD 350 per tonnes," Directorate General of Foreign Trade (DGFT) said in a notification issued today. Earlier, the MEP of the two varieties stood at USD 600 per tonne.
On March 23, the MEP of Bangalore Rose onions and Krishnapuram onions was cut to USD 600 per tonnes from USD 1,400 per tonnes, which was fixed when the ban was lifted in February this year. For all other varieties, the government has already reduced MEP to USD 170 per tonnes from USD 600 per tonnes in various tranches.
In December last year, the government had imposed a ban on export of the kitchen staple after its prices skyrocketed to Rs 80-85 per kg in the retail markets across the country. The export ban was lifted in February after prices fell to normal levels. India produced 13 million tonnes of onion in 2010-11. The exports is estimated to have declined to about 1.2 million tonnes in 2010-11 fiscal as against 1.8 million tonnes in the previous year.
Source : freshplaza.com
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