Govt removes minimum export price on potato

Govt removes minimum export price on potato
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The government today removed the minimum export price (MEP) on potato, which was imposed in July, to boost shipments of the kitchen staple.

"Export of potatoes, fresh or chilled...Shall be permitted for exports without any MEP," Directorate General of Foreign Trade (DGFT) said in a notification.

In July, the government had imposed MEP of USD 360 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 in 2014-15, its exports were less than 1 per cent of the output.

India exported 1.80 lakh tonnes of potato in 2015-16 fiscal, which was lower than 3.05 lakh tonnes in the previous year. 

Daily Pioneer
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