Govt allows private cos to export onions
Updated: Mar 13, 2014 11:47:27am
New Delhi, Mar 13 (KNN) With the improving domestic supply of onion and wholesale prices crashing, the government today allowed open and free export of all varieties of onions against the earlier practice of directing them through State Trading Enterprises (STEs) to enable faster shipment of the commodity. Now, even the private entities can export the commodity.
"Export of onion has been made free. Earlier, export of onion was permitted through STEs," the Directorate General of Foreign Trade (DGFT) said in a notification.
Earlier, only state-owned agencies like Nafed, Spices Trading Corporation, Maharashtra State Agriculture Marketing Board, and AP State Trading Corporation were allowed to export onions.
Private entities are now allowed to export all varieties of the commodity, including Bangalore Rose and Krishnapuram varieties, the DGFT said.
The move follows the Centre earlier doing away with the minimum export price (MEP) to boost exports.
The government had imposed MEP in September, 2013 amid retail prices touching Rs 100 a kg in major parts of the country. The MEP was raised several times to curb exports and boost domestic supplies.
Earlier this month, the government had abolished the export floor price of onions as domestic prices dropped to Rs 6-7 a kg in the wholesale markets.
In 2012-13, the country had exported 1.82 million tonnes. India's annual onion production is estimated at 18.9 million tonnes in 2013-14, while in 2012-13 it was around 16.8 million tonnes. (KNN/SD)
"Export of onion has been made free. Earlier, export of onion was permitted through STEs," the Directorate General of Foreign Trade (DGFT) said in a notification.
Earlier, only state-owned agencies like Nafed, Spices Trading Corporation, Maharashtra State Agriculture Marketing Board, and AP State Trading Corporation were allowed to export onions.
Private entities are now allowed to export all varieties of the commodity, including Bangalore Rose and Krishnapuram varieties, the DGFT said.
The move follows the Centre earlier doing away with the minimum export price (MEP) to boost exports.
The government had imposed MEP in September, 2013 amid retail prices touching Rs 100 a kg in major parts of the country. The MEP was raised several times to curb exports and boost domestic supplies.
Earlier this month, the government had abolished the export floor price of onions as domestic prices dropped to Rs 6-7 a kg in the wholesale markets.
In 2012-13, the country had exported 1.82 million tonnes. India's annual onion production is estimated at 18.9 million tonnes in 2013-14, while in 2012-13 it was around 16.8 million tonnes. (KNN/SD)
Loading...
