The Indian government lifts a ban on onion exports but imposes a minimum export price of USD 550 per tonne amid ongoing general elections. File photo
Govt lifts ban on onion exports, minimum export price of $550/tonne
"The export policy of onions is amended from prohibited to free subject to MEP of USD 550 per metric ton with immediate effect," an official notification said
New Delhi, May 4 (PTI) The government on Saturday lifted the ban on onion exports but imposed a minimum export price (MEP) of USD 550 per tonne.
The decision assumes significance as the commodity is politically sensitive and general elections are going on in the country.
"The export policy of onions is amended from prohibited to free subject to MEP of USD 550 per metric ton with immediate effect and until further orders," the directorate general of foreign trade (DGFT) said in a notification.
Last night, the government imposed a 40 per cent duty on the export of onions.
In August last year, India had imposed a 40 per cent export duty on onions up to December 31, 2023. PTI
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