The government has raised the export price of onion by 45 dollar per tonne to 275 dollar a tonne in order check prices which have doubled in the last one month in the retail market.In a notification, the Directorate General of Foreign Trade (DGFT) said, the Minimum Export Price of two superior varieties, Krishnapuram onions and Bangalore Rose onions, have been increased by 50 dollar per tonne to 400 dollar per tonne. These two South Indian varieties were spared from the hike last time in July. A senior government official said, the onion MEP has been raised to discourage exports and boost the domestic supply. The decision comes in the backdrop of rising onion prices, which were stable during April-June period and had even fallen to 10 rupees per kg level in the retail markets. Traders said, onion which was selling at 10 rupees a kg a month back, soared to 15 per kg last week before touching 20 rupees a kg in the Delhi and NCR.
News On AIR | August 14, 2011 11:51 AM
Govt raises export Price of Onion by 45 dollar per tonne