Export price of Basmati rice decreased  (Export price )

Delhi: The government on Friday removed the limits on the minimum export price  (Export price ) (MEP) of Basmati rice and onion with the aim of promoting exports from the country and increasing the income of farmers. The government has taken this decision as the assembly elections in Maharashtra and Haryana, which are very important states in terms of agricultural activities, are approaching. Haryana is among the major producers of Basmati rice. While Maharashtra is the leading onion producing state in the country.

The minimum export price on onion was fixed at $ 550 per tonne. But the Directorate General of Foreign Trade (DGFT) issued a notification and removed it with immediate effect. Similarly, the Department of Commerce has decided to remove the existing minimum export price (MEP) of $ 950 per tonne for issuing Registration-cum-Allotment Certificate (RCAC) for the export of Basmati rice.

Farmers’ income will increase
Commerce and Industry Minister Piyush Goyal said that this move will help in export promotion and farmers’ income. APEDA (Agricultural and Processed Food Products Export Development Authority) has been requested to take immediate steps to implement this decision. During this time, APEDA will keep a close watch on any export contract for Basmati exports at unrealistic prices. The government had reduced the minimum price for export of Basmati rice from $ 1,200 per tonne to $ 950 per tonne in early October last year. This was done due to concerns about affecting exports due to high prices. The government had decided on August 27, 2023 not to allow the export of Basmati rice at a price less than US $ 1,200 per tonne to curb illegal export of white non-Basmati rice under the guise of premium Basmati rice. India’s total export of Basmati rice stood at $4.8 billion in value terms in 2022-23. While in terms of quantity it was 45.6 lakh tonnes.

What is the price of onion

Meanwhile, the Directorate General of Foreign Trade (DGFT) said in a notification removing the minimum price limit on onion exports, “The condition of minimum export price (MEP) on export of onion has been removed with immediate effect and until further orders.” The decision to remove MEP on onion has been taken despite the high retail prices of this key kitchen food item. According to data compiled by the Department of Consumer Affairs, the all-India average price of onion on Friday was Rs 50.83 per kg, while the model price is Rs 50 per kg. The maximum price of onion is Rs 83 per kg and the minimum price is Rs 28 per kg. The Center on September 5 launched the first phase of retail sale of onion at a subsidized rate of Rs 35 per kg to provide relief to consumers of the National Capital Region Delhi and Mumbai from rising onion prices.

Government selling cheap onions
The National Cooperative Consumers Federation (NCCF) and the National Agricultural Cooperative Marketing Federation of India (NAFED) have started retailing onions through their stores and mobile vans. They are maintaining a buffer stock of 4.7 lakh tonnes of onions on behalf of the government. Last week, Consumer Affairs Secretary Nidhi Khare said the outlook for onion availability and prices in the coming months remains positive. This is because the kharif (summer) sowing area has increased to 2.9 lakh hectares till last month, compared to 1.94 lakh hectares in the year-ago period. She said that apart from this, stocks of about 38 lakh tonnes of onions are still reported to be with farmers and traders.