Minimum export price requirement for onions mandates exports on letter of credit, restricting shipments below the prescribed price. Exports of onions enumerated in Chapter 7 of Schedule 2 of the ITC (HS) classification are permitted only against a Letter of Credit (LC) and subject to a prescribed Minimum Export Price (MEP) expressed on an FOB per metric ton basis; the amendment imposes this LC-plus-MEP condition with immediate effect for a defined validity period, and subsequent notifications have adjusted the MEP level and temporal scope.
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Minimum export price requirement for onions mandates exports on letter of credit, restricting shipments below the prescribed price.
Exports of onions enumerated in Chapter 7 of Schedule 2 of the ITC (HS) classification are permitted only against a Letter of Credit (LC) and subject to a prescribed Minimum Export Price (MEP) expressed on an FOB per metric ton basis; the amendment imposes this LC-plus-MEP condition with immediate effect for a defined validity period, and subsequent notifications have adjusted the MEP level and temporal scope.
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