The Government has removed the minimum condition on onion exports with immediate effect. Previously, a minimum export price of $550 per MT was imposed in May 2024. This led to a significant drop in onion exports by over 50% in June. Till July 31, 2024, India exported 2.60 lakh tons of onions this financial year. In May 2024, the Modi-led Government had lifted the ban on onion exports but imposed minimum export price at (MEP) $550 per MT. India’s onion exports in June are estimated to have plunged by more than 50% as the minimum export price of $550 per tonne and an export duty of 40% combined to make Indian onions more expensive than the competition, exporters told ET in August. Till July 31, 2024, a total quantity of 2.60 lakh tons of onion had been exported in the current financial year 2024-25. India exported 17.17 lakh tonnes of onions in the 2023-24 fiscal year.
