Preventive trade policies restrict export of key agri commodities: study
The Dollar Business Bureau The trade policy of India on agriculture has a pro-customer prejudice which indirectly taxes farmers by putting export curbs on different crops, according to a study. The domestic prices of major agricultural items were below that of export prices in most of the years during the period 2004-2014, a joint study by The World Bank and Indian Council for Research on International Economic Relations (ICRIER) on Tuesday revealed. Policy makers have used preventive trade policies to maintain the domestic prices low in most of the years, the study found after an analysis of domestic prices deviation from global prices. The study on ‘Price Distortions in Indian Agriculture’, analysed global and domestic prices of 15 agri commodities for a 10-year period between ...
Zero MEP to have less impact on onion prices, exports
Sai Nikesh | The Dollar Business In second week of December, the government had reduced MEP on onion from $700 per tonne to $400 per tonne In view of sharp decline in onion prices and its adequate supply in domestic market, the government has removed Minimum Export Price (MEP) cap of $400 per tonne to encourage overseas shipments. Experts are of the view that the move is unlikely to affect onion prices in domestic markets as its demand in export market might remain low. “Keeping in view of sharp decline in wholesale prices of onion in producing mandies of Maharashtra and major consuming mandies and huge arrivals of onion, the government decided to reduce the MEP to 'zero' from $400 per ...
Govt control on pulses, edible oil trade to go on till Sept 2016
Source: PIB, Government of India The Union Cabinet chaired by Prime Minister Shri Narendra Modi on Tuesday has given its approval for extension of validity of Central Order No.SO.2559 (E) dated 30.9.2014 for a further period of one year, that is from 1st October, 2015 to 30th September 2016 in respect of pulses, edible oils and edible oilseeds. This will enable states to regulate trade of these essential commodities and to continue to take effective operations under the Essential Commodities Act, 1955. They can impose stock limits/licensing requirements etc. to curb unscrupulous trading, hoarding and profiteering. The extension will also help the states in tackling the problem of ensuring adequate availability of these commodities in the domestic market and keep prices under ...
Arrival of imported pulses to begin from next week
Source: PIB, Government of India The second meeting of the inter-ministerial committee on prices and availability of essential food items was held in New Delhi on Monday. The committee reviewed the current status of the arrival of imported pulses and onion. On pulses, MMTC appraised that 2500 MT of the imported Tur will arrive in three tranches at Chennai port and similar quantity of around 2500 MT of Tur will arrive at JNPT in four tranches beginning from September 23. The entire consignment of 5,000 MT of Tur would be received at the two ports by October 20, 2015. To further improve the availability, import of additional 5,000 MT of Tur has also been approved. MMTC has already floated a tender ...
Export curbs help onion prices to fall below Rs.50/kg
Source: PTI Wholesale prices of onion on Tuesday fell below the Rs.50 per kg mark at the Lasalgaon in Maharashtra, Asia's biggest onion market, due to curbs on exports and fear of action against hoarding. Even at Azadpur mandi in Delhi, wholesale onion price declined by Rs.3-5 per kg to Rs.53 on Tuesday on increase in arrival of new crop from Karnataka and Andhra Pradesh. However, retail onion prices across the country continue to rule as high as Rs.80 per kg. At Lasalgaon, which sets the price trend across the country, the wholesale onion price declined to Rs.48.5 per kg on Tuesday from Rs.57 per kg last week, according to the data maintained by Nashik-based National Horticultural Research and Development Foundation (NHRDF). ...
Govt expedites onion imports, raises MSP to $700/tonne
Source: PIB, Government of India Government of India has been keeping a close watch on the rise in prices of Onions. A decision has been taken by the government to import onions and a tender has also been floated for 10,000 MT of onions which will be opened on August 27, 2015. To increase the availability of onions in domestic market, it has been decided to raise Minimum Export Price of onions further to $700 per MT. MEP was last increased from $ 250 per MT to $425 per MT. on June 26, 2015. The prices of onions are being reviewed regularly. A meeting is again being held by Secretary (Consumer Affairs) on August, 24, 2015 with SFAC, NAFED, MMTC, Department ...
Govt hikes minimum export price of onion to check domestic market rate
The Dollar Business Bureau In an effort to curb soaring prices of onion in the domestic market, the government has increased the minimum export price (MEP) of onion by more than 140% from $175 per tonne to $425 a tonne. “Export of all varieties of onions will be subject to a MEP of $425 FOB (freight on board) per tonne,” a report said citing a notification issued by the Directorate General of Foreign Trade (DGFT). According to officials, the move will discourage onion traders to sell the produce abroad, resulting in adequate supply in the domestic markets. In the wholesale markets within the country, the price of onion has increased from Rs 11,000 ($173) per tonne to Rs 17,000 ($268) in ...
