Current Affairs

Government puts Minimum Export Price for Onion

Current context: The government has announced a Minimum Export Price of $850 per tonne for Onion.
 Government puts Minimum Export Price for Onion
  • The decision has been taken in order to check exports and bring down sharp increasing prices in the domestic market which touched Rs 30/kg as Wholesale price.
  • The Minimum Export Price is the rate, below which no exports are allowed.
  • The notification has been issued by the Directorate General of Foreign Trade (DGFT) to export all varities of onions only on Letter of Credit subject to the MEP of $850 FOB per tonne.
  • Reasons for the price rise of onion is said to be due to fall in supply of onions from Madhya Pradesh and Karnataka, rains in parts of Mahaharastra hampering onion markets followed by droughts.
  • India’s export on an average of 15 lakh tonnes of onion and produces around 17-18 million tonnes of onions in a year.

Question: 

The government has put the Minimum Export Price on which of the following commodity recently?
a. Potato
b. Tomato
c. Onion
d. Mustard
Government puts Minimum Export Price for Onion Government puts Minimum Export Price for Onion Reviewed by Shweta Kashyap on September 15, 2019 Rating: 5

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