Centre removes minimum export condition on onions; effective immediately

[ad_1] The government has removed the minimum export condition on onion exports with immediate effect, as per a notification issued on Friday. In May 2024, the Modi-led government had lifted the ban on onion exports but imposed minimum export price at (MEP) $550 per MT. India's onion exports in June are estimated to have plunged by more than 50 percent as the minimum export price of $550 per tonne and an export duty of 40 percent combined to make Indian onions more expensive than the competition, exporters told ET in August. Till July 31, 2024, a total quantity of 2.60 lakh tons of onion had been exported in the current financial year 2024-25. India exported 17.17 lakh tonnes of onions in the 2023-24 fiscal year. [ad_2] Source link Follow Us: https://facebook.com/gagab2b https://youtube.com/gagab2b https://gagab2b.com https://gagab2b.com/import-export-news/import-export-india-news/centre-removes-minimum-export-condition-on-onions-effective-immediately/?feed_id=795&_unique_id=66ee351086981

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