New Delhi Jan 21 (IANS) The central government has reduced the minimum export price (MEP) of onions to $700 per tonne till February 20 2018.
According to a notification issued by the Directorate General of Foreign Trade (DGFT) the MEP has been reduced by $150 per tonne.
"Export of all varieties of onions... will be allowed only on Letter of Credit (LC) subject to a MEP of $700 E.O.B. per metric ton (instead of $850 F.O.B. per metric ton) with immediate effect and till 20.02.2018 " said the notification issued on January 19 2018.
The MEP was reintroduced in November 2017 to check the rise in domestic prices.
--IANS
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