March 5, 2014 8:44 AM

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Govt removes export restrictions on onions

Government has removed restrictions on onion exports by scrapping minimum export price MEP. The Directorate General of Foreign Trade, DGFT, said in a notification yesterday.The government had imposed MEP on onion in September 2013 and then it was raised several times to curb exports and boost domestic supplies as retail prices had shot up as high as 100 rupees per kg in many parts of the country. Sharp reduction in onion prices have led to removal of MEP. The retail price currently ranged between 5-20 rupees per kg in the national capital.India produces around 17-18 million tonnes of onion a year.

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