New Delhi: A worried government on Monday decided to suspend onion exports till January 15 in the wake of skyrocketing prices of the commodity which is selling between Rs 60-70 a kg.
Agriculture cooperative major National Agricultural Cooperative Marketing Federation of India Limited (NAFED), a regulating agency, has been asked to stop giving fresh clearance to exporters.
The government has also made exports almost impossible for those who are already in possession of 'no objection certificate' (NOC) given by the NAFED and 12 other agencies.
It has more than doubled the minimum export price (MEP) to $1,200 per tonne from $525, meaning no shipment can take place below this price.
"We have decided to voluntarily suspend issuing NOC to onion exporters till January 15 and have also raised the MEP to $1,200 dollars per tonne for those NOCs which is yet to be executed," an official said.
The decision to suspend exports was taken at an emergency meeting of NAFED held today.
Onion prices have soared to Rs 60-70 per kg in the retail markets across the country from Rs 35-40 a couple of days ago.
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