Imposition of Minimum Export Price (MEP) on Potato Export

As per the WPI for the month of May, 2014, there has been an increase of 40% in the wholesale price of the Potato as compared to their prices in March, 2014. Similarly, there was an increase of 30% in the Retail price of the Potato for the same period.

Further, modal rates of Potato was an increase of 37% to 114% from March, 2014 till June, 2014 in four Metropolitan cities of the country.

Annually around one to two lakhs tones of Potatoes are exported to various destinations. With a view to check the rising prices and augment domestic supplies, the Ministry of Commerce & Industry has decided to impose an MEP of USD 450 PMT FOB.