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Core Purpose

Notification amending the Export Policy for onions under Chapter 07 of Schedule 2 of the ITC (HS) Export Policy by imposing a Minimum Export Price.

Detailed Summary

By notification No. 42/2023, S.O. 4719(E), dated 28 October 2023, the Ministry of Commerce and Industry (Department of Commerce), Directorate General of Foreign Trade, in exercise of powers under Section 3 read with Section 5 of the Foreign Trade (Development & Regulation) Act, 1992 (No. 22 of 1992), read with Paragraphs 1.02 and 2.01 of the Foreign Trade Policy, 2023, amended the Export Policy of Onions under S.No. 51 of Chapter 07 of Schedule 2 of the ITC (HS) Export Policy (covering HS codes 0703 10 10 and 0712 20 00, i.e., onions of all varieties except Bangalore Rose and Krishnapuram onions, excluding cut, sliced or powdered forms), keeping export status 'Free' but subjecting it to a Minimum Export Price (MEP) of US $800 F.O.B. per Metric Tonne until 31 December 2023. The notification took effect from 29 October 2023. Two categories of consignments are exempted from the MEP requirement: consignments handed over to Customs or registered in the Customs electronic system with verifiable date/time-stamped evidence prior to the notification's issuance, for which the export period extends to 30 November 2023, and consignments on which export duty (non-refundable) was paid before the notification's issuance. The notification was signed by Santosh Kumar Sarangi, Director General of Foreign Trade & Ex-Officio Additional Secretary, under F. No. 01/91/171/50/Misc/AM21/e-26586.

Full Text

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