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        Customs, DGFT & SEZ

        Steep hike in export price of onion to USD 525/tonne

        November 15, 2010

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        New Delhi, Nov 15 (PTI) The agri-cooperative Nafed today sharply hiked export price of onion by USD 150 a tonne and said it will interfere in both wholesale and retail markets to curb rising prices.

        In Delhi where prices have gone up to around Rs 40 a kg from Rs 25 per kg in the past 15-20 days, Nafed and National Cooperative Consumers' Federation of India would sell onion at Rs 25 per kg through their 25 stores from tomorrow.

        "We have increased the onion minimum export price (MEP) from USD 375 a tonne to USD 525 a tonne for this month because of unprecedented rise in prices, particularly in retail market,"Nafed Managing Director Sanjeev Chopra told reporters.

        Minimum export price raised for onions; cooperative to intervene in domestic wholesale and retail markets. The cooperative exporter increased the Minimum Export Price for onions for the month in response to unprecedented retail price rises and announced coordinated market intervention in wholesale and retail channels, including retail sales through cooperative stores at the reference retail price to stabilise domestic availability and prices.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Minimum export price raised for onions; cooperative to intervene in domestic wholesale and retail markets.

                                The cooperative exporter increased the Minimum Export Price for onions for the month in response to unprecedented retail price rises and announced coordinated market intervention in wholesale and retail channels, including retail sales through cooperative stores at the reference retail price to stabilise domestic availability and prices.


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