NEW DELHI SEPT 8:To curb exports of onion and improve its supplies in the domestic markets the government is contemplating increasing the minimum exports price (MEP) of onion bu almost $175 per tonne to $475 per tonne but it may not immediately ban onion exports.
At present the MEP is pegged at $300 per tonne after it was raised by $25 per tonne on August 24.The hike the fourth since June 18 was done is the retail price of onion started rising because of delay in sowing of kharif crop in Maharashtra and also hoarding by farmers ,analysts said.
Officials said the government is now mulling the option of further raising thte MEP as retail price are still high but could stop short of banning exports as it could hirt the interest of growers.
If the MEP is hiked is $175 per tonnes it should go a long way in curbing exports as effectively it would mean that any onion priced below Rs 22 and RS 23 per kilogram(assuming dollar rate is Rs 46)will not be allowed to be exported.At current rate the MEP of onion is Rs 13-14 per kilogram.
Consumer affairs minister K V Thomas chaired a meeting with senior official attached with his ministry and also others to review the onion price situation across the country.Following the National Cooperative Consumer Federation of India (NCCF)will sell onion at RS 20 per kilogram through
their retail outlets in Delhi.,
Thomas has also directed all officials to keep a close watch on the price situation and take other appropriate measure like discouraging export if requried.The meeting was attended by secretary,consumer affairs
At present the MEP is pegged at $300 per tonne after it was raised by $25 per tonne on August 24.The hike the fourth since June 18 was done is the retail price of onion started rising because of delay in sowing of kharif crop in Maharashtra and also hoarding by farmers ,analysts said.
Officials said the government is now mulling the option of further raising thte MEP as retail price are still high but could stop short of banning exports as it could hirt the interest of growers.
If the MEP is hiked is $175 per tonnes it should go a long way in curbing exports as effectively it would mean that any onion priced below Rs 22 and RS 23 per kilogram(assuming dollar rate is Rs 46)will not be allowed to be exported.At current rate the MEP of onion is Rs 13-14 per kilogram.
Consumer affairs minister K V Thomas chaired a meeting with senior official attached with his ministry and also others to review the onion price situation across the country.Following the National Cooperative Consumer Federation of India (NCCF)will sell onion at RS 20 per kilogram through
their retail outlets in Delhi.,
Thomas has also directed all officials to keep a close watch on the price situation and take other appropriate measure like discouraging export if requried.The meeting was attended by secretary,consumer affairs
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