Indian onion exporters to get 5% incentive under MEIS

 In a bid to boost onion exports, the central government has decided to give a 5% benefit to onion e…

 In a bid to boost onion exports, the central government has decided to give a 5% benefit to onion exporters under the Merchandise Exports from India Scheme (MEIS). The scheme has come into effect from July 13 and will continue until January 12, 2019, says a notification issued by the Directorate General of Foreign Trade.

Farmers, traders and the Agriculture Produce Market Committee (APMC) at Lasalgaon had been demanding for this incentive to be put in place for onion exports. The Maharashtra State Agriculture Marketing Board had also sent a proposal to the central government around two months ago, seeking 5% incentive for onion export to stop the drop in onion prices.

"The move will benefit onion exporters. The maximum onion export from the country is from Nashik district. Hence, it will benefit onion exporters in our district in a big way. It will also help stabilize onion prices, which will help the farmers," said Jaydatta Holkar, chairman of the Lasalgaon APMC.

Onion trader Manoj Jain said: "Farmers have huge storages of summer onions. Moreover, the arrival of early kharif onions have started in some onion growing pockets of the country. There is a possibility that the supply of onions may increase and prices fall, which will affect the farmers."

Source: timesofindia.indiatimes.com