India halts onion exports, jacks up export price to $1,200 per tonne
20 Dec 2010
The government today moved to call a halt to sky-rocketing onion prices, which moved above Rs60 a kg in retail trade, by suspending its exports till 15 January and raising the minimum export price of the commodity from $525 to $1,200 per tonne.
A meeting of the price fixation advisory committee (PFAC) for fixing the minimum export price (MEP) of onion today revised the minimum export price of onion from $525 to $1200 per tonne (C&F Dubai base).
State marketing agencies such as NAFED, NCCF and others will also voluntarily suspend issuance of `No Objection Certificates' (NOCs) for exports. The NOCs, which have already been issued till today will be effected only at $1,200 per tonne C&F.
NAFED and NCCF will also start retail sale of onion from tomorrow through their own outlets for making available onion to the consumer at a reasonable price.