In a bid to curb the price hike, government has hiked the minimum export price to $500 per tonne. The whole exercise is assumed for the discourage exports of onions.
It is noted that the price of onions have creates a panic among the people of country in the recent days. The price hike is very crucial as the new government at center came with the commitment to check price hike and the new effort on onions seems to be the crucial step to achieve the target.
It is noted that 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.
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