Nashik onion export rises, may create record

Published on : February 01, 2017 Topic : Business

NASHIK: Onion export witnessed a three-fold increase in the first seven months (April-Oct) of the current financial year as compared to the corresponding period in 2015-16, thanks to the Centre's move to remove the minimum export price (MEP) of the commodity.
Another major factor that contributed to the rise in export was introduction of 5% subsidy under the Merchandise Exports from India Scheme (MEIS).

The highest export of onions registered in the country was 18.73 metric tonne during 2009-10 fiscal. However, the country is expected to touch a record 20 lakh MT of export this fiscal, said sources in the industry.
The government had introduced the MEIS for export of "onions fresh or chilled" with effect from August 26, 2016. It was valid up to December 31, but the government extended the scheme till March 31, 2017 following demand from exporters at the Lasalgaon Agriculture Produce Market Committee (APMC).
Highly placed sources in National Agricultural Co-operative Marketing Federation (Nafed) told TOI on Monday that the country exported 16.34 lakh MT during the first 10 months (April-October) of the current financial year, as against 5.07 lakh MT during the corresponding period of 2015-16.
Nafed director Nanasaheb Patil said that besides the government's move over MEP and export subsidy, there has been a bumper production this year.

Source: The Times of India
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