August 27, 2016 2:31 PM

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Nitin Gadkari meets Nirmala Sitharamn over sharp decline in onions' price

Union Transport Minister Nitin Gadkar today met Commerce Minister Nirmala Sitharaman over the sharp decline in the price of onions in the producing states. He said, the Commerce Minister has launched Merchandise Exports from India Scheme (MEIS) under which onions will be exported and five per cent grant will be given to exporters. They can utilize this for import and can withdraw as money. The Minister hoped that more exporters will come forward to take the benefit of MEIS scheme to export onions.According to official data, wholesale prices of onion prices crashed to six rupees per kilogram at Asia's biggest onion market at Lasalgaon in Maharashtra compared to 48 rupees 50 paisa per kilogram in the year-ago period.The government had on Friday decided to extend export duty benefit to onion for promoting its outbound shipments to arrest steep fall in its prices and protect farmers interest.

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