Government Scraps Export Price Thresholds to Boost Farmers' Income

The government has scrapped the minimum export prices for onion and basmati rice to boost exports and enhance farmers' income. The move comes ahead of assembly elections in Maharashtra and Haryana. Both these states and Punjab are major producers of basmati rice, and the decision is aimed at addressing farmers' issues and increasing their income.

The government has decided to scrap the minimum export prices for onion and basmati rice to boost exports and enhance farmers' income. This decision was announced ahead of assembly elections in Maharashtra and Haryana, both of which are significant producers of basmati rice.

Commerce and Industry Minister Piyush Goyal emphasized that the removal of the USD 950 per tonne minimum export price on basmati rice aims to boost exports and increase farmers' income. The APEDA has been requested to implement this decision immediately and monitor export contracts for non-realistic prices.

Additionally, the directorate general of foreign trade removed the USD 550 per tonne minimum export price on onion with immediate effect. Despite high retail prices, this move is expected to benefit farmers. The Department of Consumer Affairs noted a positive outlook for onion availability and prices in the coming months, thanks to an increase in the kharif-sown area.

(With inputs from agencies.)