A day after Finance Minister Arun Jaitley spoke at length about expanding agricultural exports, the government removed the restriction on onion shipments.
It has removed the minimum export price (MEP) on onion and allowed domestic traders to ship out all its varieties. “We are taking all measures to promote export of agriculture products,” tweeted Commerce and Industry Minister Suresh Prabhu. Back in November, the government had imposed an MEP of $850, or Rs 54,000, a tonne. Such limits are imposed every now and then to discourage foreign traders from buying at a time when lack of supply lifts prices
It has removed the minimum export price (MEP) on onion and allowed domestic traders to ship out all its varieties. “We are taking all measures to promote export of agriculture products,” tweeted Commerce and Industry Minister Suresh Prabhu. Back in November, the government had imposed an MEP of $850, or Rs 54,000, a tonne. Such limits are imposed every now and then to discourage foreign traders from buying at a time when lack of supply lifts prices