Full formGovernment & Exams
MECstands forMinimum Export Price
Full Form of MEC
What is MEC?
Minimum Export Price (MEC) is the lowest price at which a particular commodity can be exported from India. It is a trade policy tool used by the government to regulate the outflow of essential goods, especially agricultural commodities like onions, potatoes, pulses, and edible oils. When domestic prices surge due to shortages or hoarding, the government imposes an MEC to make exports less attractive, thereby ensuring adequate supply within the country and controlling inflation. The Directorate General of Foreign Trade (DGFT) notifies the MEC, which can be revised periodically based on market conditions. This mechanism is frequently invoked during festive seasons or after crop failures to protect consumers. In examinations like UPSC, SSC, and state civil services, questions on India’s export control measures often include MEC as a key concept for understanding agricultural trade policy. The effectiveness of MEC depends on compliance by exporters and real-time monitoring by customs authorities.
MEC का फुल फॉर्म
न्यूनतम निर्यात मूल्य
Example
The government imposed an MEC of $850 per tonne on onion exports to stabilize domestic prices ahead of the festival season.
MEC — frequently asked questions
What is the full form of MEC?
MEC stands for Minimum Export Price, the lowest price at which a commodity can be exported from India.
How does MEC affect onion prices in India?
MEC sets a floor price for onion exports, making exports less profitable and helping retain supply in the domestic market, which stabilizes or reduces retail prices.
Who sets the MEC in India?
The Minimum Export Price is notified by the Directorate General of Foreign Trade (DGFT) under the Ministry of Commerce and Industry.