Govt Notifies Minimum Export Price of Onion at $850 per Tonne

The government has notified Minimum Export Price of onion at 850 dollars per tonne to ensure its availability in the domestic market. 

Food and Consumer Affairs Minister Ram Vilas Paswan stated this will discourage cheap export from the country and augment its domestic availability. The Ministry had authorized National Agricultural Cooperative Marketing Federation (NAFED) and Small Farmers Agribusiness Consortium (SFAC) to procure 12 thousand tonnes onion.

Static/Current Takeaway Points Important for IBPS PO Mains 2017 Exam-
  • NAFED was established on 02nd October 1958.
  • Chairman of NAFED– VR Patel
  • Constituency of Ram Vilas Paswan- Hajipur, Bihar.
Source- The Hindu Business Line

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