DGFT notifies Minimum Export Price for Onions in Effort to Regulate Exports [Read Notification]

The Directorate General of Foreign Trade (DGFT), vide notification no. 45/2023 issued on 23rd November 2023 has notified the Minimum Export Price for onion in relation to regulate the exports.

The notification states that “In supersession of Notification No.42/2023 dated 28/10/2023 [S.O. and in exercise of powers conferred by Section 3 read with section 5 of the Foreign Trade (Development & Regulation) Act, 1992 (No. 22 of 1992), as amended, read with Para 1.02 and 2.01 of the Foreign Trade Policy, 2023, the Central Government hereby amends the Export Policy of Onions in Chapter 07 of Schedule 2 of the ITC (HS) Export Policy, as under:

2. Notification will come into immediate effect.

3. The following consignments of onions will be allowed to be exported without MEP:

1. Where onions consignment has been handed over to the Customs before 29th October, 2023 (the date from which the Notification No.42/2023 dated 28/10/2023 [S.O. 4719(E)] came into effect) and is registered in their system / where onions consignment has entered the Customs station for exportation before this Notification and is registered in the electronic systems of the concerned Custodian of the Customs Station with verifiable evidence of date and time stamping of these commodities having entered the Customs Station prior to 29th October, 2023 (the date from which the Notification No.42/2023 dated 28/10/2023 [S.O. came into effect). The period of export shall be up to 30th November, 2023.

2. Export duty has been paid before the issuance of this Notification. Such export duty is non – refundable.

Effect of the notification: Export of onions is ‘Free’. Minimum Export Price (MEP) of US $ 800 F.O.B per Metric Ton (MT) is imposed till 31st December, 2023. Notification No.42/2023 dated 28/10/2023 [S.o. is superseded.

Support our journalism by subscribing to Taxscan premium. Follow us on Telegram for quick updates