The government has imposed Minimum Export Price (MEP) of $360 per tonne on potato in order to increase domestic availability and cool prices. As per notification issued by Directorate General of Foreign Trade (DGFT), export of potatoes is permitted subject to MEP of $360 per tonne.
The prices of potato in the wholesale market of Agra in Uttar Pradesh state has increased to Rs 15.25 per kg from Rs 7 per kg in the year-ago period. The retail prices are however hovering in the range of Rs 30-35 per kg in the national capital.
India exported 1.80 lakh tonnes (LT) of potatoes in 2015-16 fiscal, which was lower than 3.05 LT in the previous year. The production of the commodity stood at 480 LT in 2014-15. The country was the world’s second largest potato producer at 48 million tonnes (MT) in 2014-15, its exports were less than 1% of the output.
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