INVC NEWS
New Delhi : The Central Government has taken the permission of the Election Commission before lifting the ban on onion export. According to government sources, the Department of Revenue under the Finance Ministry has taken permission from the Election Commission to lift the ban on onion exports subject to the conditions of 40 per cent export duty and Minimum Export Price (MEP) of US$ 550 per tonne. The government had lifted the ban on onion export on Saturday. This decision will help a large number of farmers. This decision has been taken at a time when voting for Lok Sabha elections is going on in many major producing areas including Maharashtra.
The government has imposed a minimum export price of $550 per tonne (about Rs 46 per kg) along with an export duty of 40 per cent. In view of this duty, onion export will not be allowed at a price below $770 per tonne or Rs 64 per kg. The decision to lift the ban on onion export has been taken on the recommendation of the Department of Consumer Affairs. The department monitors the availability and price situation of onion in the country.
On December 8 last year, the Center had banned onion exports to control retail prices amid concerns of a possible decline in production. During the last 4-5 years, 17 lakh to 25 lakh tonnes of onion has been exported from the country annually. Consumer Affairs Secretary Nidhi Khare said that there will be no increase in prices in the retail market due to the lifting of the ban. He said that prices will remain stable. If there is any increase, it should be very minor. He said the government is committed to protecting the interests of both consumers and farmers.
