New Delhi [India], October 28 (ANI): The Union Government on Saturday notified the Minimum Export Price (MEP) of USD 800 per Metric Ton (MT) on a FOB basis for the export of onions with effect from October 29 to December 31, 2023.

The measure has been taken to maintain sufficient availability of onion to domestic consumers at affordable prices as the quantity of stored rabi 2023 onion is declining by curbing the number of onion exports.

Also Read | Rajasthan Assembly Elections 2023: Three Senior Congress Leaders, Including Former Jaipur Mayor Jyoti Khandelwal, Join BJP Ahead of Polls (Watch Video).

The MEP of USD 800 per MT translates into about Rs 67/kg.

Along with the decision to impose MEP on onion exports, the Government has also announced the procurement of an additional 2 lakh tons of onion for the buffer, over and above the 5 lakh tons already procured.

Also Read | Leopard Attack in Gujarat: Five-Year-Old Girl Mauled to Death by Big Cat in Amreli District.

Onion from the buffer has been disposed of continuously from the second week of August in major consumption centres all over the country and also supplied to retail consumers at Rs 25/kg through mobile vans operated by NCCF and NAFED.

To date, about 1.70 lakh Metric Tons of onion have been disposed of from the buffer.

The continuous procurement and disposal of onion from the buffer are undertaken to moderate the prices for consumers while ensuring remunerative prices to the onion farmers.

The decision to impose an MEP of USD 800 per MT shows the determination of the Government to keep onion affordable to domestic consumers. (ANI)

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)