Govt imposes MEP of $850/MT on onions to boost domestic supplies
The Dollar Business Bureau In order to increase local supplies and to control rising prices, the Government on Thursday levied a minimum export price (MEP) of $850 per metric tonne (MT) on onions till the end of this year. Minimum Export Price is the minimum rate below which exports are not allowed. In December 2015, the Government has scrapped the MEP of onion. “Export of all varieties of onions will be allowed only on Letter of Credit (LC) subject to a minimum export price (MEP) of $850 FOB per metric tonne till December 31, 2017, Directorate General of Foreign Trade (DGFT) said in a notification (No.39/2015-2020), dated November 23. The retail prices of onion have surged to Rs.50-65 per kg in most of the ...
Govt procures 3273 tons of moong at MSP and bonus rate
The Dollar Business Bureau The Government has procured 3,273 tonnes of moong from farmers at the minimum support price (MSP) and bonus rate to protect their interest. "Since the start of arrival of new crop in the market, the Government agencies have procured 3273.16 MT Moong as on Sept 19, 2016 benefiting 330 farmers," said the food ministry in a statement. The Government agencies –Food Corporation of India (FCI), National Agricultural Cooperative Marketing Federation of India Ltd. (NAFED) and Small Farmers' Agribusiness Consortium (SFAC) have established about 200 procurement centres to procure Moong from farmers at (MSP) i.e Rs. 4,800 and bonus Rs. 425 during kharif 2016-17 season. Usually the kharif season begins from October. However, the new moong crop has already hit ...
NAM amalgamates with more states as Govt. clears 12
The scheme predicts the execution of the NAM through setting up e-commerce platforms which would be stationed in 585 regulated wholesale market both in the state and the union territories who would like to join the e-platform The Dollar Business Bureau National Agricultural e-commerce platform The government has given its clearance to 12 states which would be merged with the National Agriculture Market. The Central Government has given its consent to the scheme for establishing the National Agriculture Market (NAM) with a Rs.200 crore budget. The scheme predicts the execution of NAM by setting up e-market platforms which would be stationed in 585 wholesale markets both in the state and the union territories. This applies to those who would like to join the ...
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 ...
Price Stabilisation Fund to promote agri-businesses
The Dollar Business Bureau In a move to support the country’s agri-business, the Department of Agriculture & Cooperation on Tuesday, approved the inclusion of Price Stabilization Fund (PSF) as a Central Sector Scheme. The scheme, with a corpus of Rs 500 crore, is expected to support the market interventions for price control of perishable agri-horticultural commodities during 2014-15, 2015-16 and 2016-17. The PSF will be managed centrally by the PSF Management Committee (PSFMC) and is maintained in a Central Corpus Fund account to be opened by Small Farmers Agri-Business Consortium (SFAC), which will act as Fund Manager. The PSF scheme will help states with advance interest-free loans to support their working capital and other expenses on procurement and distribution ...
