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Government imposes stock limit to check rise in onion prices

NEW DELHI: The Government has said it has taken steps to moderate prices and availability of onion in the country.

Briefing media in New Delhi, Consumer Affairs Secretary Leela Nandan said, a stock limit has been imposed on the onions with effect from today which is 25 Metric Tonnes for Wholesalers and 2 Metric Tonnes for Retailers for a period up to 31st December 2020.

She added, in order to moderate the price rise, the government took a pre-emptive step by announcing a ban on onion export on the 14th of last month so as to ensure availability to domestic consumers at reasonable rates, before the expected arrival of Kharif onion.

The Secretary said, the retail price rise has moderated to some extent, but recent reports of heavy rainfall in the onion growing districts of Maharashtra, Karnataka, Andhra Pradesh and Madhya Pradesh have created concerns about damage to Kharif crop. She said, the developments on the weather front have contributed to the sharp increase in onion prices.

Nandan said, to tide over the present situation, the government has stepped up disposal of onions through the built up buffer stock of one Lakh Metric Tonne from the Rabi onion-2020. The release of onion from the buffer stock is being carried out swiftly but in a calibrated manner from the second half of September to major Mandis as well as to retail suppliers in major cities and also through State Governments.

 

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