The Union Government has notified a Minimum Export Price of 800 US dollars per Metric Ton on onion export to maintain its domestic availability. This will be in effect from the 29th of October to the 31st of December this year. Ministry of Consumer Affairs, Food and Public Distribution in a statement said that the measure has been taken to maintain sufficient availability of onion to domestic consumers at affordable prices, by curbing the quantity of onion exports, as the quantity of stored Rabi 2023 onion is declining. The Minimum Export Price of 800 dollars per Metric Ton of onion translates into about 67 rupees per kilogram.
In addition to it, the Government has also announced the procurement of an additional two lakh tons of onion for the buffer, over and above the 5 lakh tons already procured. The Ministry added that onion from the buffer has been disposed of continuously from the second week of August in major consumption centres and also supplied to retail consumers at 25 rupees per kilogram. It said that till date about 1.70 lakh Metric Tons of onion has been disposed from the buffer. The continuous procurement and disposal of onion from the buffer are undertaken to moderate the prices for consumers while ensuring remunerative prices to the onion farmers.