Govt hikes onion MEP to $500 per tonne
02/07/2014 16:23
The government today hiked the minimum export price of onion to USD 500 per tonne to improve the domestic supply and curb prices, reported PTI. Last month, the minimum export price (MEP) on onion was re-introduced at USD 300 per tonne barely three months after the previous government in March had abolished it. MEP is the rate below which no exports are allowed, as per the media reports. Retail prices of onion have risen to about Rs 25-30 per kg, while the wholesale prices are ruling at Rs 18.50 per kg in the national capital, as per the reports in the media. "Keeping in view, the rising retail and wholesale prices and delayed monsoon, the Committee unanimously decided to fix the MEP at USD 500 per tonne which translates to Rs 30 per kg with a view to arrest domestic price rise and augment domestic supply," an official statement said.
02/07/2014 16:23
The government today hiked the minimum export price of onion to USD 500 per tonne to improve the domestic supply and curb prices, reported PTI. Last month, the minimum export price (MEP) on onion was re-introduced at USD 300 per tonne barely three months after the previous government in March had abolished it. MEP is the rate below which no exports are allowed, as per the media reports. Retail prices of onion have risen to about Rs 25-30 per kg, while the wholesale prices are ruling at Rs 18.50 per kg in the national capital, as per the reports in the media. "Keeping in view, the rising retail and wholesale prices and delayed monsoon, the Committee unanimously decided to fix the MEP at USD 500 per tonne which translates to Rs 30 per kg with a view to arrest domestic price rise and augment domestic supply," an official statement said.
