The Government has decided to remove the Minimum Export Price (MEP) on export of potato. This step has been taken keeping in view of the prevailing lower prices and higher domestic availability of potato. The removal of existing MEP on potato will help farmers in realizing better and remunerative prices and would also help the exporters in earning valuable foreign exchange for the country through exports.
The Ministry of Commerce & Industry had earlier decided to impose Minimum Export Price (MEP) of $450 PMT FOB with effect from June 26, 2014. This step was taken with a view to check the rising prices of potato and augment domestic supplies.
According to initial estimates by the National Horticultural Research and Development Foundation (NHRDF), the overall production in the country is likely to stand at 42 million tonnes (MT) for 2015.