The Hindu Business Line : 2019-06-12

COMMODITIE­S : 13 : 13

COMMODITIE­S

CHENNAI COMMODITIE­S 13 BusinessLi­ne WEDNESDAY JUNE 12 2019 • • Export incentives on onion removed Covering up A worker covers mounds of salt with dry grass at a salt pan near Bhandup in Mumbai on Tuesday. Cyclone Vayu, which is expected to make landfall near Saurashtra in Gujarat, is expected to bring in heavy rains along the western coast. India is the third largest producer of salt after China and the US. India's salt production stood at 289.49 lakh tonnes in 2017-18 and Gujarat is the largest salt-producing State. PRESS TRUST OF INDIA New Delhi, June 11 The government has removed incentives for export of fresh and chilled onions, a move aimed at discouragi­ng outbound shipments of the kitchen staple due to rising prices in the domestic market. Exporters of onion were earlier getting incentives under Merchandis­e Exports from India Scheme (MEIS) at the rate of 10 per cent. The Directorat­e General of Foreign Trade (DGFT), an arm of the Commerce Ministry, in a public notice dated June 9, stated it is withdrawin­g the benefits for exports of fresh and chilled onions. “The rate at which MEIS benefits for exports of fresh and chilled onions is granted under the foreign trade policy has been made zero from the current 10 per cent with immediate effect,” it said.

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