New Delhi [India], September 14 (ANI): Union Home Minister Amit Shah emphasised the central government’s decision to remove the minimum export price on onions and said that the government is boosting exports to ensure farmers receive a fair price for their crops.
In a post on X, Shah stated that the Prime Minister Narendra Modi-led government has made the decision keeping the welfare of farmers paramount.
“Modi government is increasing exports to ensure fair price to the farmers for their crops so that farmers can get maximum price for their crops. Keeping the interests of farmers paramount, the Modi government has taken three important decisions. The Modi government has decided to remove the Minimum Export Price (MEP) on onions and reduce the export duty from 40 per cent to 20 per cent. This will increase onion exports, resulting in a rise in income for onion-producing farmers. The government has also decided to remove the MEP on Basmati rice, enabling Basmati rice-producing farmers to export and earn higher profits. Additionally, the Modi government has decided to increase the duty on the import of crude palm, soyabean, and sunflower oils from 12.5 per cent to 32.5 per cent and on their refined oils from 13.75 per cent to 35.75 per cent. This will ensure that Indian soybean farmers receive better prices for their crops, thus increasing their income,” Shah said.
A Ministry of Commerce and Industry release on September 13 announced the amendments made in the export policy conditions of onions. As per the release, the Minimum Export Price (MEP) condition on export onions is removed with immediate effect and until further orders.
The decision comes on the heels of robust kharif crop production prospects and favourable monsoons, coupled with stable market conditions both at the market and retail levels.
Earlier, the government lifted the onion export prohibition on May 4, 2024, and allowed the export with the minimum export price (MEP) of USD 550 per tonne and an export duty of 40 per cent. (ANI)
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