The Government has increased the export incentives granted for Onions. It has been increased under the Merchandise Exports from India Scheme (MEIS) from existing 5% to 10% in the interest of farmers.
It will result in better price for Onion in domestic markets. Not to forget that, the onion arrivals have increased in the market at present. It is the reason due to which the prices in the Mandis are subdued.
Now it has been decided by the Government to encourage exports of Onions so that the domestic prices stabilize. Therefore, the export incentives for Onions have been doubled to 10% from what is being currently provided under MEIS scheme.
Before July 2018, the export incentive for fresh inions was zero. During July, 2018, the incentives were introduced at the rate of 5%. Now, with the current increase, Onions enjoy one of the highest incentives for Agro-exports.
This timely intervention would help the farmers who have recently harvested their produce, sowed or recently transplanted their seeds, expecting better prices.
