MEP of Onions Raises to US$300/MT from US$275/MT

[DGFT Notification No. 68 dated 24^th August 2011]

In exercise of powers conferred by Section 5 of the Foreign Trade (Development & Regulation) Act, 1992 (No. 22 of 1992) read with Para 2.1 of the Foreign Trade Policy, 2009-2014, the Central Government makes the following amendment in Notification No 66(RE – 2010)/2009-2014 dated 12.08.2011 read with Notification No 24(RE – 2010)/2009-2014 dated 18.02.2011. The amendment is made with immediate effect.

2. The “Minimum Export Price(MEP) of US$ 275 per Metric Ton F.O.B. or as notified by DGFT from time-to-time” as appearing in para 2(ii)  of Notification No 66(RE – 2010)/2009-2014 dated 12.08.2011 for the item description at Serial Number 44.01 of Notification No 24(RE–2010)/2009-2014 dated 18.02.2011 is replaced by the “Minimum Export Price(MEP) of US$ 300 per Metric Ton F.O.B. or as notified by DGFT from time-to-time”.

3. Effect of this notification:

Minimum Export Price (MEP) of onions other than Bangalore Rose Onions and Krishnapuram onions will be US$ 300 per Metric Ton F.O.B. It was US$ 275 per Metric Ton as notified on 12.08.2011. There is no change in Minimum Export Price (MEP) of Bangalore Rose Onions and Krishnapuram onions and it will continue to be US$ 400 per Metric Ton F.O.B.