The decision to remove the Minimum Export Price (MEP) condition on onion exports has been met with positivity, especially considering the current onion price crisis in the country. With the MEP restriction removed, onion exports are likely to see a significant boost, benefiting farmers and the economy as a whole.

Union Commerce Minister Piyush Goyal emphasized that the government’s decision to eliminate restrictions on onion exports is a step towards empowering farmers and promoting agricultural trade. The revised onion export policy, effective immediately, includes an exemption from the $550 per tonne limit under the MEP, providing more flexibility to exporters.

Notably, Maharashtra, the largest exporter of onions in India, stands to gain substantially from this decision. With a buffer stock of 4.7 lakh tonnes of onions stored by government agencies like NCCF and NAFED, efforts are underway to stabilize onion prices and ensure sufficient supply for consumers.

Consumer Affairs Secretary Nidhi Khare expressed optimism about the availability and pricing of onions in the coming months, citing an increase in the area sown during the Kharif season. Additionally, the government’s initiative to retail onions at a subsidized rate aims to provide relief to consumers in regions like Delhi and Mumbai, where onion prices have been a concern.

This strategic move by the central government aligns with its focus on supporting farmers and facilitating agricultural exports, particularly in times of economic challenges and political transitions.

The post Government Lifts Minimum Price for Onion and Basmati Rice Exports to Boost Farmers’ Income appeared first on Vizag One.

The government has mobilized agencies like NAFED and NCCF to facilitate the distribution of onions at subsidized prices to the public through various channels such as central stores and mobile vans. Similar initiatives were undertaken last year during a similar price surge in tomatoes and onions, demonstrating the government’s commitment to ensuring food security for all citizens.

Moreover, in addition to onions, the government is also offering flour, pulses, and rice at affordable rates to combat inflation and support the populace during these challenging times. These essential food items are part of the government’s strategy to provide cost-effective options for households facing economic pressures.

The recent spike in onion prices can be attributed to adverse weather conditions, particularly heavy rains in Maharashtra, disrupting the onion supply chain and leading to a rise in wholesale and retail prices. To address this issue, the government plans to release onions from its buffer stock into the market, which is expected to stabilize prices and alleviate concerns about further escalation.

The post Onion Prices Remain High: Government Initiatives to Lower Rates appeared first on Vizag One.