Union Government Sets Minimum Export Price (MEP) to Ensure Onion Availability and Affordability

Union Government Sets Minimum Export Price (MEP) to Ensure Onion Availability and Affordability

Asif Iqbal | October 28, 2023 | 10:25 PM IST | Breaking News | Follow on Google News

Union Government Sets Minimum Export Price (MEP) to Ensure Onion Availability and Affordability

MEP Imposed to Control Onion Exports

In a move to ensure a steady supply of onions at affordable prices for domestic consumers, the Union Government announced a Minimum Export Price (MEP) of USD 800 per Metric Ton (MT) on a Free on Board (FOB) basis. This decision, effective from October 29 to December 31, 2023, aims to curtail the number of onion exports, given the decreasing quantity of stored rabi 2023 onions.

Maintaining Price Stability

The MEP of USD 800 per MT, roughly equivalent to Rs 67 per kilogram, demonstrates the government’s commitment to preventing steep price surges in the onion market, safeguarding the interests of consumers. This measure ensures that onions remain accessible and affordable for households across India.

Buffer Stock Augmentation

In addition to imposing MEP, the government has initiated the procurement of an extra 2 lakh tons of onions to strengthen buffer stocks. This procurement complements the 5 lakh tons of onions already acquired for the buffer. The buffer stock of onions has played a crucial role in stabilizing onion prices and ensuring that consumers can access onions at reasonable rates.

Congress Leader Randeep Singh Surjewala Accuses BJP of Deceiving Farmers

Sustained Efforts for Price Moderation

The government has actively managed the buffer stock of onions, releasing them consistently to major consumption centers across the nation. It has also made these onions available to retail consumers through mobile vans operated by the National Cooperative Consumers’ Federation (NCCF) and the National Agricultural Cooperative Marketing Federation of India (NAFED) at Rs 25 per kilogram. To date, approximately 1.70 lakh Metric Tons of onions have been distributed from the buffer stock.

Balancing Farmer and Consumer Interests

The decision to impose an MEP on onion exports underlines the government’s commitment to ensuring a balance between the interests of onion farmers and consumers. It reflects the government’s dedication to making onions affordable to the general public while providing fair prices to onion farmers.

Union Government Sets Minimum Export Price (MEP) to Ensure Onion Availability and Affordability: In case of rectification of any error in article , Visit on Correction Policy & Register your Query:

Asif Iqbal

Asif Iqbal is a seasoned news writer with a passion for delivering the latest updates to the public. Currently serving as the senior writer at VoM News, a prominent news outlet known for its comprehensive coverage of diverse topics, Asif has established himself as a reliable source of information. With a keen eye for detail and a knack for storytelling, he consistently provides readers with well-crafted articles that cover a wide range of news categories. His dedication to journalistic integrity and his commitment to staying ahead of the news curve make him an invaluable asset to Vom News, ensuring that readers are always well-informed on the issues that matter most. You can find his work and stay updated on current events by visiting vomnews.in.