Onion prices jump 10% post-MEP scrapping and export duty reduction in Nashik

The Centre has reduced the export duty on onions from 40% to 20% after scrapping the Minimum Export Price (MEP). This led to a 10% increase in wholesale onion prices at Lasalgaon APMC, Nashik, rising to Rs 4,600 per quintal. The decision is expected to boost onion exports.