About MEP

• Minimum Export Price (MEP) is the price below which an exporter is not allowed to export the commodity from India. MEP is a kind of quantitative restriction to trade.
• MEP is levied by the government to restrict exports and increase the supply of commodities which will consequently reduce its price levels in the domestic market. 
• Thus, it aims to protect the interests of domestic consumers. 

Why in News?

• The Centre has notified a Minimum Export Price of 800 US dollars per Metric Ton on onion export to maintain its domestic availability. 
• The measure has been taken to maintain sufficient availability of onion to domestic consumers at affordable prices, by curbing the quantity of onion exports, as the quantity of stored Rabi 2023 onion is declining.
• In addition to it, the Government has also announced the procurement of additional two lakh tons of onion for the buffer, over and above the 5 lakh tons already procured. 

https://newsonair.gov.in/News?title=Govt-imposes-minimum-export-price-of-USD-800-per-tonne-on-onion-exports-till-31-Dec-to-contain-prices-in-domestic-market&id=470287