The Union Government on Saturday notified the Minimum Export Price (MEP) of USD 800 per Metric Ton (MT) on a FOB basis for the export of onions with effect from October 29 to December 31, 2023.
The measure has been taken to maintain sufficient availability of onion to domestic consumers at affordable prices as the quantity of stored rabi 2023 onion is declining by curbing the number of onion exports.
The MEP of USD 800 per MT translates into about Rs 67/kg.
Along with the decision to impose MEP on onion exports, the Government has also announced the procurement of an additional 2 lakh tons of onion for the buffer, over and above the 5 lakh tons already procured.
Onion from the buffer has been disposed of continuously from the second week of August in major consumption centres all over the country and also supplied to retail consumers at Rs 25/kg through mobile vans operated by NCCF and NAFED.
To date, about 1.70 lakh Metric Tons of onion have been disposed of from the buffer.
The continuous procurement and disposal of onion from the buffer are undertaken to moderate the prices for consumers while ensuring remunerative prices to the onion farmers.
The decision to impose an MEP of USD 800 per MT shows the determination of the Government to keep onion affordable to domestic consumers. (ANI)