NEW DELHI: To tear down onion prices Governing over 75 rupees per kg in some places, the government decided on Friday to invoke stock limit rules for traders for the kitchen staple.
Onion prices continued to skyrocket in every state. According to data kept by the Ministry of Consumer Affairs, retail onion prices in Mumbai were at Rs 86 / kg, Chennai at Rs 83 / kg, Kolkata at Rs 70 / kg, and Delhi at Rs 55 / kg on 22nd. October.
The revised stock limit rules are effective today and will be valid until December 31. For the retail trade, the inventory limit has been set at 2 tons (20 quintal) and 25 tons (250 quintal) for the wholesale stock.
According to the government, the current harvest is estimated at 36 lakh tonnes compared to the previous estimate of 43 lakh tonnes. The decision was made considering the rise in onion prices compared to last year and the last five years.
Additionally, the Center has also stepped up efforts to cool onion prices by asking states and union territories to take the kitchen staple from the central reserve stock for retail intervention.
“We have stepped up efforts to control price increases. We have asked state governments and union territories to take onions from our reserve stock for retail intervention,” Consumer Affairs Secretary Leena Nandan told the agency. PTI news.
This is the first time that the government has created a reserve stock of 1 lakh metric tonnes of onions to cope with the price increase by calibrating release of that stock.
“The central government supplied onions to various states according to their requirements. So far, 35,000 metric tons of onions have been delivered to the states to maintain some stability in prices,” he added.
The Center is offering onion from buffer stocks stored in Nashik, Maharasthra at the obtained rate of Rs 26-28 per kg to states wishing to lift stocks on their own. For others who want it delivered, the price offered would be Rs 30 per kg, he noted.
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