HomeLifestyleOnion Prices: Before Diwali, onions will be available at very cheap prices,...

Onion Prices: Before Diwali, onions will be available at very cheap prices, the central government has taken a big step

Highlights

In the last 5 years, the government has increased the buffer stock of onions to a record level.
In the financial year 2021-22, the government had prepared 2.08 lakh tonnes of onion as buffer stock.
In the first business year, the government had bought 1 lakh tonnes of onions.

New Delhi. The government has taken another step to put a brake on the prices of onions. The government (Modi Govt) has sold about 54,000 tonnes of onions in the open market from the buffer stock. The Ministry of Consumer Affairs gave information about this in the press conference. Let us tell you that to control the prices of onions, the government currently has a buffer of 2.5 lakh tonnes of onions. Which the government had started supplying onions to the states only last week.

The Modi government is expected to unload around 50,000 tonnes of onions from its buffer stock in some cities like Delhi and Guwahati, where onion prices are slightly higher than the all-India average rates. In the last 5 years, the government has increased the buffer stock of onions to a record level. In the financial year 2021-22, the government had prepared 2.08 lakh tonnes of onion as buffer stock. In the first business year, the government had bought 1 lakh tonnes of onions.

Crop damage due to heavy rain
Traders say that there has been heavy rain in Maharashtra and North Karnataka. This has damaged the crop. If it rains for the next few days and more, then there may be a huge drop in the arrivals. Therefore, there is a possibility of prices rising rapidly.

Till the time the new crop yield does not reach the market, onion prices may continue to rise. The new onion produce is expected to reach the market by the first week of November. APMC says that the old stock of onions is about to run out. At present, the supply is being done from this stock. This is the reason why onion prices are seeing a rise.

According to media reports, the retail price of onion has reached Rs 40 per kg in the retail market. Traders say that it can go up to Rs 50 per kg. Till the beginning of October, the wholesale price of onion was Rs 15 and the retail price was Rs 25. In about 15 days, there has been an increase of 30-40% in the purchase of onions from the godowns.

Kharif onion is supplied in October-November
Traders believe that till the new upch reaches the market, onion prices may be normal. The contribution of Rabi onion to the total production in India is up to 70%. Even after the contribution of bad onions is low, it is important in ensuring the supply. Onion is supplied from the Kharif season between September to November.

Tags: business news, Business news in hindi, Dhanteras, Diwali, inflation, Modi Govt, Onion Price

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Recent Comments