The Government has increased the export incentives granted for Onions under the Merchandise Exports from India Scheme (MEIS) from existing 5% to 10%. This will result in better price for Onion in domestic markets, claims govt source.
The onion prices touched as low as Rs 1 per kg. It may be noted that the Onion arrivals have increased in the market but the prices in the Mandis are subdued.
To contain the situation, it has been decided by the Government to encourage exports of Onions so that the domestic prices stabilize, claims PIB.
This timely intervention would help the farmers who have recently harvested their produce and who have sowed/ recently transplanted their seeds, expecting better prices, claims govt sources.