Friday, 30 December 2016

Government removes minimum export price on potato

Government removes minimum export price on potato
The central government removed the minimum export price (MEP) of potato from December 29, 2016.
MEP of USD 360 per tonne on potato had imposed to increase domestic availability and cool prices in July 2016. India was the world’s second largest potato producer at 48 million tonnes (mt) in 2014-15.
India exported nearly 0.18 mt of potato in the curreny year which is lower than the previous year
What is Minimum Export Rate(MEP) ? 
 MEP is the rate below which no trader is allowed to export. The rise in MEP restricts exports and improves domestic supply.

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