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Onion exports have doubled during December to 0.13 million tonnes (mt) compared with the previous month after the government lowered the minimum export price (MEP). Exports stood at 66,236 tonnes during November, according to data compiled by the National Horticultural Research and Development Foundation.
Last month, the government had slashed onion MEP three times to boost exports and check sliding domestic prices of the edible bulb that led to farmers' protests in producing states. On December 26, MEP, the benchmark price below which the commodity cannot be exported, was reduced to $150 a tonne from $350 a tonne.
Before that, MEP was reduced to $350 a tonne from $800 a tonne on December 19, while it was cut to $800 a tonne from $1,150 on December 16.
