India lifts ban on onion exports, sets minimum price at USD 550 per tonne

The Indian government has announced to lift the ban while imposing a minimum export price (MEP) of USD 550 per tonne. This move comes amidst the commodity's political sensitivity and the ongoing general elections in the country.

The Directorate General of Foreign Trade (DGFT) issued a notification stating, "The export policy of onions is amended from prohibited to free subject to MEP of USD 550 per metric ton with immediate effect and until further orders."

The decision to lift the ban on onion exports is expected to have a substantial impact on the agricultural and export sectors, providing relief to farmers and traders involved in onion production and trade.