The Government has reportedly raised the minimum price for exporting onion by US$55 to an average of US$275 a ton for September to step up its availability in the domestic markets.
At present, the prices of export-quality onion are ruling higher at Rs800-900 per quintal against Rs600-700 per quintal in the last month.
A senior official,Nafed, was quoted as saying that the Minimum Export Price (MEP) has been increased by US$55 a ton for September 2010 after three months. He further added that after the hike, the MEP stands at US$275 a ton. Between June-August, the Government had kept the MEP unchanged at US$220 a ton.
The MEP was increased because of a sharp surge in prices of export-quality onion by Rs 200 per quintal in the last one month. The high MEP may bring down exports further, thereby raising the domestic supply, he noted.
The Government has reportedly raised the minimum price for exporting onion by US$55 to an average of US$275 a ton for September to step up its availability in the domestic markets.
At present, the prices of export-quality onion are ruling higher at Rs800-900 per quintal against Rs600-700 per quintal in the last month.
A senior official,Nafed, was quoted as saying that the Minimum Export Price (MEP) has been increased by US$55 a ton for September 2010 after three months. He further added that after the hike, the MEP stands at US$275 a ton. Between June-August, the Government had kept the MEP unchanged at US$220 a ton.
The MEP was increased because of a sharp surge in prices of export-quality onion by Rs 200 per quintal in the last one month. The high MEP may bring down exports further, thereby raising the domestic supply, he noted.