Onions MEP Raised to US$500/MT from US$300/MT

The Inter-Ministerial Committee in their meeting held on 30th June, 2014, observed that the wholesale and retail prices of onion are going up in producing and consuming mandies and despite MEP at USD 300 PMT there is no appreciable decline in the exports of onion.

Keeping in view of rising retail and wholesale prices and delayed monsoon, the Committee unanimously decided to fix the MEP at USD 500 per MT FOB which translates to Rs.30.00 per kg. with a view to arrest domestic price rise and augment domestic supply.

[DGFT Notification No. 86 dated 2^nd July 2014]

Subject: Export Policy of Onions.

In exercise of powers conferred by Section 5 of the Foreign Trade (Development & Regulation) Act, 1992 (No. 22 of 1992), as amended read with Para 1.3 of the Foreign Trade Policy, 2009-2014, the Central Government hereby makes the following amendment, with immediate effect, in Notification No. 82 (RE- 2013)/2009-14 dated 17.06.2014 read with Notification No. 73 (RE- 2013)/2009-14 dated 12.03.2014 relating to export of onion.

2. The amended para 2 of Notification No. 82 (RE- 2013)/2009-14 dated 17.06.2014 will now read as:

“Export of onion for the item description at Serial Number 51 & 52 of Chapter 7 of Schedule 2 of ITC(HS) Classification of Export & Import Items shall be permitted subject to a Minimum Export Price(MEP) of US$ 500 per Metric Ton F.O.B. or as notified by DGFT from time-to-time”.

3. Effect of this notification

Export of all varieties of onions as described above will be subject to a Minimum Export Price (MEP) of US$ 500 per MT.