Government has lifted the onion export prohibition from 4th May, 2024 and has allowed the export with minimum export price of (MEP) of USD 550 per MT and export duty of 40%.
Till 31st July, 2024, a total quantity of 2.60 lakh tons of onion had been exported in current financial year 2024-25.
Further, the Government had procured 4.68 lakh tons, majorly from Maharashtra, through NCCF and NAFED for the price stabilization buffer. In comparison with last year (2023), the price realization by onion farmers in current year has been much higher.
The average monthly mandi modal prices of onion in Maharashtra between April and July, 2024 were in the range of Rs.1,230 to Rs.2,578 per quintal as against Rs.693 to Rs.1,205 per quintal for corresponding period last year (2023).
The average procurement price of onion for the buffer in current year was Rs.2,833 per quintal which is 64% higher than the procurement price of Rs.1,724 per quintal last year.
India is a net exporter of onion and earns income from the export. The net export value earned by India for each of the last three years were Rs.3,326.99 crore in 2021-22, Rs.4,525.91 crore in 2022-23 and Rs.3,513.22 crore in 2023-24.
