Government imposes minimum export price of USD 800 per tonne on onion till December 31

India, the world's second largest onion exporter, had banned shipments of the kitchen staple in December 2023 till March 2024 due to rising domestic prices and potential shortages. This led to a surge in onion prices in neighbouring countries.

The price of onions has shot up more than 50% in the past two weeks because of a delay in the arrival of kharif onions, which are now expected to hit markets in December

India has extended restrictions on onion exports until March 31, 2024, aiming to maintain ample supply and curb escalating prices of this politically significant vegetable. With a minimum export price set at $800 per tonne until December 31, 2023, the government seeks to stabilize domestic onion availability amidst nearly doubled prices within a year.

India News: NEW DELHI: The government on Saturday imposed a minimum export price (MEP) of $ 800 per tonne on onion exports till December 31 this year with a view .

After victories in three states, a confident BJP is hopeful of winning the next Lok Sabha elections. Yet it does not want to leave anything to chance, least of all TOP which can swing voter sentiment wildly as these kitchen staples pinch people at the bottom of the population the most.

India faces onion shortage due to drop in rabi harvest. Meanwhile, export ban causes price crash, protests. Exporters suggest controlled exports amid shortage and high international prices. In a letter to the Union government, a group of leading onion exporters have cautioned the government about the consequences of allowing onion exports without adhering to a proper mechanism to control export volumes.

After tomatoes, the price of another staple vegetable — onion — is on a steep rise in the country. Within a week, retail prices have already increased by nearly 60 per cent.

After realising that government intervention of selling onion in retail market has made a better impact on cooling prices, the consumer affairs minist

The government plans to stabilize onion prices by releasing 91,960 tonnes from buffer stocks via rail to key consumption centers and e-commerce platforms, selling at Rs 35/kg. This intervention aims to address the spike in vegetable prices, with onion prices nearing Rs 100/kg in retail markets.