The Indian government announced on Friday the removal of the minimum export price (MEP) for onions, which had previously been set at USD 550 per tonne. This decision is intended to benefit Indian farmers by allowing them to take advantage of the current international glut of onions and boost exports.
The Directorate General of Foreign Trade (DGFT) issued a notification stating that the MEP condition for onion exports has been lifted with immediate effect and will remain in place until further orders. This policy shift is expected to enhance the competitiveness of Indian onions in the global market.
The move comes ahead of the Assembly elections in Maharashtra, a major onion-producing state, and aims to support the agricultural sector by promoting greater export opportunities for Indian farmers.
