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Centre removes minimum export condition on onions; effective immediately
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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.
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