News Desk :India has lifted the ban on onion exports, a move that will bring huge relief to traders in Maharashtra, the Times of India reports. The decision comes just before the next phases of the Lok Sabha election, particularly in the onion belts in Maharashtra, reports bdnews24.comIn a notification on Saturday, the Director General of Foreign Trade, or DGFT, fixed the Minimum Export Price (MEP) for onion at $550 per tonne, the TOI said. While putting onion export under the “prohibited” category, the Indian government had been allowing limited exports after getting requests from some countries, including Bangladesh, Sri Lanka and UAE. Onion traders and farmers, particularly from Maharashtra, had been demanding to lift the ban arguing this would help farmers get better prices. But the government did not relent, fearing export of the key kitchen item may push up domestic prices.

Source: bd News24 May 04, 2024 20:23 UTC