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Onion exports decline by 18 percent in first fiscal

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Onion exports declined by 18 per cent to 4.86 lakh tonnes in the first half of the fiscal on the government’s steps to curb outbound shipments.

The exports stood at 4,85,930.51 tonnes during April- September period of the current 2015-16 fiscal compared with 5,89,900.89 tonnes in the corresponding period of the previous year, according to data compiled by National Horticultural Research and Development Foundation (NHRDF).

Exports dipped during the first six months of the fiscal as the government had hiked the minimum export price (MEP) to USD 700 per tonne in August this year as prices skyrocketed on lower output due to unseasonal rains.

With onion prices under control and ruling at low levels, the government yesterday scrapped the onion MEP to push outward bound shipments as domestic prices have crashed.

“All varieties of onions… can be exported without any MEP,” Directorate General of Foreign Trade (DGFT) said in a notification. MEP is the rate below which no trader is allowed to export. The rise in MEP restricts exports and improves domestic supply.

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