Team Blitz India
NEW DELHI: India has lifted the ban on onion exports after about half a year, according to a notification from the Directorate General of Foreign Trade (DGFT). The move is expected to be a shot in the arm for traders in Maharashtra that accounts for a significant share of onion crops and it comes before the next phases of Lok Sabha elections where several areas of the western state are set to go to polls.
While the prohibition for onion exporthas now been removed, DGFT has set the Minimum Export Price (MEP) for onion at $550 per tonne.This is effectve immediately.
Onion traders and farmers, especially from Maharashtra, have been urging for the ban to be lifted, saying that it would assist farmers in obtaining better prices. However, the government had remained hesitant, fearing that the export of this crucial kitchen staple could lead to a surge in domestic prices.
