IndianMascot
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Centre today hiked the minimum export price of onions sharply by $275 per tonne to curb shipments and boost domestic supply to control spiraling retail prices that have soared to Rs 80 per kg.
The decision to increase onion MEP to $700 per tonne from $425 is taken as prices of onions at both wholesale and retail levels have been rising on lower output due to unseasonal rains earlier.
“To increase availability in domestic market, it has been decided to raise minimum export price (MEP) of onions further to USD 700 per tonne,” said the Consumer Affairs Ministry in a statement.
The decision to increase onion MEP to $700 per tonne from $425 is taken as prices of onions at both wholesale and retail levels have been rising on lower output due to unseasonal rains earlier.
“To increase availability in domestic market, it has been decided to raise minimum export price (MEP) of onions further to USD 700 per tonne,” said the Consumer Affairs Ministry in a statement.