New Delhi : To arrest steep fall in onion prices and protect farmers interest, government today decided to extend export duty benefits to onion for promoting its outbound shipments.
Wholesale prices at the Asia’s biggest onion market at Lasalgaon in Maharashtra have crashed to Rs 6 per kg today compared to Rs 48.50 per kg in the year-ago period, official data showed.
The duty benefits for export of both fresh and stored onions would be available till December 31, Commerce and Industry Minister Nirmala Sitharaman said today.
“The Ministry of Commerce will provide 5 per cent MEIS (Merchandise Exports from India Scheme) for encouraging export of fresh/chilled onions. Available from now till 31 December 2016,” Sitharaman tweeted.
“Expected quantity of onions exported to be approx 3-3.5 lakh MTs (tonnes). Hopefully will help to export more onions from India,” she tweeted further.
