MEP on onion export increased to USD 500 per MT FOB

New Delhi, Jul 2 (KNN)  Keeping in view the rising retail and wholesale prices and delayed monsoon, the Inter-Ministerial Committee unanimously decided today to fix the minimum export price (MEP) of onion at USD 500 per MT FOB which translates to Rs 30 per kg, with a view to arrest domestic price rise and augment domestic supply.

“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 mandies and despite MEP at USD 300 PMT there is no appreciable decline in the exports of onion,” an official release said.  
 
On June-17, the Directorate General of Foreign Trade had notified that export of all varieties of onions will be subject to a Minimum Export Price (MEP) of USD 300 per MT.  (KNN/ES)