Govt scraps 10% MEIS incentives on onion exports to curb domestic prices

MEIS rate had doubled to 10% last December, as prices ranged between Rs 1-3 a kg wholesale. The move took bulk prices to Rs 13 a kg steadily, and retail to Rs 20-25 a kg across the country

The government has withdrawn 10 per cent export incentives granted to onion to discourage shipment out of India and prevent further escalation in prices in the domestic markets.

In a notification issued on Tuesday, the Directorate General of Foreign Trade (DGFT) said, “The rate at which Merchandise Export from India Scheme (MEIS) benefits for export of onions fresh or chilled is granted under the Free Trade Policy (FTP) has been brought down to zero from