» Business

India lifts curbs on onion export price

Publication Date : 04-05-2012


India has scrapped the minimum export prices on onions and decided to remove the quantitative restrictions on sugar exports.

These decisions were taken at a high-level meeting chaired by Prime Minister Manmohan Singh, officials said.

Bangladesh is a key export market for onions from India.

Singh called the meeting after Agriculture Minister Sharad Pawar had written to him criticising the export policies of sugar, cotton and dairy products.

Pawar, Finance Minister Pranab Mukherjee, Commerce and Textiles Minister Anand Sharma, Food Minister KV Thomas also attended the meeting.

"Sugar will be exported under the Open General Licence only and not under the first come first serve basis," an official said.

On March 26, an empowered group of ministers (eGoM) on food had decided to allow one million tonnes of sugar exports but the decision has not been notified yet in the absence of export modalities.

The panel of ministers had directed the ministry to come up with a new policy to expedite exports.

For the two million tonnes of sugar exports, which has so far been allowed in the 2011-12 marketing year, the food ministry was allocating the export quota among millers on the basis of average production in the last three years.


Mobile Apps Newsletters ANN on You Tube