Indian Government removes cap on onion export prices
Just one day after Finance Minister Arun Jaitley stressed the need for promoting exports of agricultural commodities in the Indian Budget, the Commerce Ministry announced it had removed the minimum export price (MEP) on onions.
Commerce Minister Suresh Prabhu tweeted: “The requirement of a Minimum Export Price (MEP) on exported onions has been removed. All varieties of onions can now be exported. We are taking all measures to promote exporting agricultural products.”
Apart from emphasising the need for promoting agri exports, Jaitley announced ‘Operation Greens’, a ₹5 billion (63 mln euros) scheme to improve the year-round availability of staple vegetables such as onions, potatoes and tomatoes.
According to thehindubusinessline.com, first horticultural production estimates from the national Agriculture Ministry -dated last month- projected the 2017-2018 onion production to be 21.4 million tonnes, about 1 million tonnes less than previous year’s production.
Publication date: 2/5/2018
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