Onion Prices To Cool Down? Modi Government Takes This BIG Decision

New Delhi: In a recent move to curb the soaring prices of onions in the domestic market, the government has announced the imposition of a Minimum Export Price (MEP) of USD 800 per tonne on onion exports until December 31, 2023. The Directorate General of Foreign Trade made this decision public through an official notification issued on Saturday.

The imposition of this MEP aims to ensure the availability of an adequate supply of onions within the country and to stabilize the fluctuating prices that have burdened consumers in recent weeks. (Also Read: THIS Post Office Scheme Guarantees A Monthly Income Of Rs 9,000 - Here's How)

The move comes as onion prices continue to escalate, currently ranging between Rs 65 and Rs 80 per kilogram in the retail market of the national capital, Delhi. (Also Read: 'Pay Rs 20 Crore Or ...': Mukesh Ambani Receives Shocking Death Threat)

Responding to the crisis, Mother Dairy, a prominent retail chain with approximately 400 Safal stores in the Delhi-NCR region, has initiated the sale of loose onions at Rs 67 per kilogram.

Meanwhile, popular e-commerce platforms such as Bigbasket and Otipy have also adjusted their prices, with Bigbasket retailing at Rs 67 per kilogram and Otipy at Rs 70 per kilogram.

Despite these efforts, local vendors are still selling onions at a staggering Rs 80 per kilogram, exacerbating the burden on consumers.