GOVT SETS MINIMUM ONION EXPORT PRICE, BUYS MORE FOR BUFFER

The Minimum Export Price of 800 per metric tonne, which equals Rs 67 per kilogram, is a reaction to the high onion prices in Delhi, where they range from Rs 65 to Rs 80 per kilogram due to reduced supply

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The government of India has taken significant measures to address the rising prices and availability of onions in the domestic market. On Saturday, October 28, 2023, the Ministry of Consumer Affairs, Food and Public Distribution imposed a Minimum Export Price (MEP) of $800 per metric tonne on onion exports, effective from October 29, 2023, until December 31, 2023. This decision aims to ensure an adequate supply of onions within the country while stabilizing prices.