Govt removes minimum export price of potato

Posted on:30 Dec 2016 09:40:29
Govt removes minimum export price of potato
30 December 2016 Current Affairs: The government has removed the minimum export price (MEP) of potato, which was imposed in July, to boost shipments of the kitchen staple.

Export of potatoes, fresh or chilled, should be permitted for exports without any MEP.

In July, the government had imposed MEP of $360 (abour 24,000) per tonne on potato to increase domestic availability and cool prices.

 Although India was the world’s second largest potato producer at 48 million tonnes (mt) in 2014-15, its exports were less than one per cent of the output.

 India exported 0.18 mt  of potato in financial year 2015-16, which was lower than 0.30 mt in the previous year.
The government has removed the minimum export price (MEP) of potato, which was imposed in July, to boost shipments of the kitchen staple.

Export of potatoes, fresh or chilled, should be permitted for exports without any MEP.

In July, the government had imposed MEP of $360 (abour 24,000) per tonne on potato to increase domestic availability and cool prices.

 Although India was the world’s second largest potato producer at 48 million tonnes (mt) in 2014-15, its exports were less than one per cent of the output.

 India exported 0.18 mt  of potato in financial year 2015-16, which was lower than 0.30 mt in the previous year.

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