November 4, 2013 7:03 PM

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Centre hikes MEP of onions to USD 1,150 per tonne

The Centre has hiked the minimum export price of (MEP) of onions to 1,150 dollar per tonne. The move will help ensure domestic supplies and controlling its prices, which have been ruling at very high levels for about three months. The Director General of Foreign Trade (DGFT) said in a notification that export of all varieties of onion will be subject to new MEP. On September 19, the government had raised the MEP to 900 dollar per tonne, from 650 dollar. AIR correspondent reports that the Centre has been keeping a close watch on the price situation and has taken several measures to improve supplies including more imports. It has also directed all state governments to crack down on hoarders and speculators who are keeping onion prices artificially high.

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