Traders believe the government’s decision to allow export of onion at a minimum price of Rs 64 per kg may lead to significant trade figures for the crop from India, as the prices are set by other countries like Pakistan and China. In December last year, the government had banned the export of onions. Which has been removed on Saturday. Also, a minimum export price (MEP) of $ 550 per tonne has been fixed for onion export and 40 percent export duty has been imposed. So the total price per tonne for onion export comes to $770 or Rs 64 per kg. Concerned exporters believe that the current pricing for onion exports is high. The government should reduce the export duty so that India can compete globally in onion exports. A price of Rs 45 to Rs 50 per kg can boost onion exports.
New challenges in onion export
Onion traders believe that the minimum export price (MEP) is higher at Rs 64 per kg.
Traders believe that a price of Rs 45 to Rs 50 per kg can boost onion exports.
After the export ban was lifted, a jump of Rs 4 was seen in the market prices of onion in Lasalgaon.
The government on Saturday lifted the export ban on onion and fixed the MEP at $550 per tonne and imposed 40 per cent export duty.
