New Delhi: The Union government imposed a minimum export price (MEP) of $800 per tonne on onion exports till December 31 this year. The decision was taken to contain prices and availability in domestic market. The Directorate General of Foreign Trade announced this.
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Earlier in August this year, the Ministry of Finance imposed a 40% export duty on onions. This was also due to rising local prices of the vegetable.
The Union government also decided to procure additional 2 lakh tonne of onion for the buffer stock. The government has already procured 5 lakh tonne. To date, about 1.70 lakh Metric Tons of onion have been disposed of from the buffer.
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