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Govt Scraps Minimum Export Price for Onion and Basmati

The Centre has lifted the Minimum Export Price (MEP) restrictions on onions and basmati rice ahead of the Haryana and Maharashtra elections. This decision aims to support farmers in these states, where onions are primarily grown in Maharashtra and basmati rice in Haryana. Previously, high MEPs had hindered exports and impacted farmer incomes.

The MEPs, set at $550 per tonne for onions and $950 per tonne for basmati rice, were imposed to control domestic prices but resulted in a slump in exports and financial losses for farmers and traders. With elections approaching, this move is seen as a strategy to address farmer grievances and bolster support for the ruling BJP, which faced setbacks in these regions during the recent Lok Sabha elections.

Union Minister of Commerce & Industry Piyush Goyal praised the decision, highlighting Prime Minister Modi’s commitment to addressing farmers’ issues. The Directorate General of Foreign Trade has officially removed the MEP condition, effective immediately.

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