Hard-working labourers unload onion luggage on the bustling market in Puducherry on Tuesday.
| Photo Credit: KUMAR SS
The authorities on May 4 lifted the ban on onion exports however imposed a minimum export price (MEP) of $550 per tonne.
The choice assumes significance because the commodity is politically delicate and normal elections are going on within the nation.
“The export policy of onions is amended from prohibited to free subject to MEP of $550 per metric ton with immediate effect and until further orders,” the directorate normal of overseas commerce (DGFT) stated in a notification.
Last night time, the federal government imposed a 40% obligation on the export of onions.
In August final 12 months, India had imposed a 40% export obligation on onions as much as December 31, 2023.
