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On Saturday, the Centre imposed a Minimum Export Price (MEP) of USD 800 per tonne on onion exports till December 31 to boost the availability of the vegetable in the domestic market.
Government of India’s decision to impose Minimum Export Price of USD 800/ton on Onion with effect from 29th October 2023 till 31st December 2023 to discourage exports and maintain availability in domestic markets has shown an immediate impact of pric
The government said on Monday that its move to impose Minimum Export Price on onions “has shown an immediate impact of price correction in Maharashtra markets, where prices recorded a decline of 5 percent to 9 percent from the highest price registered during last week”.
However, the all-India average price of onion was at around Rs 50.35 per kg while the maximum rate was Rs 83 per kg and modal price was at Rs 60 per kg, as per the data compiled by the Department of Consumer Affairs.
The government recently imposed a Minimum Export Price for onions and procurement of an additional 2 lakh tonnes of onion for buffer stocks, , onion prices