No MEP or Letter of Credit necessary anymore
Indian government: Unencumbered onion exports
Onion exports now are allowed without any minimum export price (MEP) or letter of credit requirements, the Indian government said today.
According to indiatoday.in, the Directorate General of Foreign Trade has issued the clarification in view of complaints received from onion exporters that customs officials were not clearing onion shipments without letters of credit despite this rule being abandoned since February 2.
"It is clarified that export of all varieties of onions is permitted without MEP or LC, effective February 2, until further orders," the notification said.
The MEP on onions was removed to encourage exports in view of dipping domestic prices following higher outputs.
Publication date: 2/28/2018
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