New Delhi, Sep 30 (PTI) Cooperative major Nafed today
said it has cut the minimum export price (MEP) of onion by 20
dollars a tonne for October as domestic prices have stabilised
amid ample availability.
The average MEP now stands at USD 230-235 a tonne.
"We have reduced the MEP of average quality onion by 20
dollar a tonne for all destinations as the domestic price has
shown signs of stability and actually fallen," a senior
official with the National Agricultural Cooperative Marketing
Federation (Nafed) said.
Nafed is the nodal agency for onion export and it, in
consultation with 12 other agencies, decides the MEP every
month after taking into account domestic availability and
prices.
After the revision, the onion MEP (Cost and Freight) now
stands at USD 230 a tonne for 'break bulk' category and USD
235 a tonne in container shipment for destinations like Dubai
and Sharjah.
Onion from southern India is mainly exported to Sri
Lanka, Malaysia and Singapore, while the Nasik varieties are
sent to all export destinations, particularly to Gulf nations.
Last week, Nafed Vice-Chairman C B Holkar said India's
onion exports might rise by 20 per cent to reach 12 lakh
tonnes in 2008-09, compared with 9.96 lakh tonnes last year on
the back of good production.
Onion exports have shot up to 7.09 lakh tonnes between
April and August from 3.82 lakh tonnes in the same period last
fiscal. Onion exports in 2007-08 had suffered due to low
production.
According to the data maintained by the Ministry of
Consumer Affairs, the retail prices of onion in the national
capital are ruling at Rs 15.
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