31 C
Wednesday, June 19, 2024

During a price surge, the government is selling onions for Rs 25; find out where

<p>In the last week, the cost of onions has increased double, from Rs 30-35 per kg to Rs 60-90 per kg. From its buffer supply, the government is selling onions at a reduced price of Rs 25 per kg. In order to do this, the government has placed onion sale booths in over 170 cities and 685 centers.<img decoding=”async” class=”alignnone wp-image-263711″ src=”https://www.theindiaprint.com/wp-content/uploads/2023/11/theindiaprint.com-dunki-teaser-srk-laughs-while-assisting-vicky-kaushal-and-taapsee-in-their-illegal.jpg” alt=”theindiaprint.com dunki teaser srk laughs while assisting vicky kaushal and taapsee in their illegal” width=”1040″ height=”779″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2023/11/theindiaprint.com-dunki-teaser-srk-laughs-while-assisting-vicky-kaushal-and-taapsee-in-their-illegal.jpg 259w, https://www.theindiaprint.com/wp-content/uploads/2023/11/theindiaprint.com-dunki-teaser-srk-laughs-while-assisting-vicky-kaushal-and-taapsee-in-their-illegal-150×112.jpg 150w” sizes=”(max-width: 1040px) 100vw, 1040px” title=”During a price surge, the government is selling onions for Rs 25; find out where 3″></p>
<p>In order to keep onion prices under control, the government has increased imports and released onions from its buffer stock.</p>
<p>Since the second week of August, onions from the buffer stock have been regularly disposed of in the nation’s key consumption centers. They have also been made available to retail customers at a cost of Rs 25 per kg via mobile vans run by NCCF and NAFED.</p>
<p>In addition to the 5 lakh tonnes of onions previously acquired, the Center recently said that it will purchase a further 2 lakh tonnes for the buffer.</p>
<p>According to an official statement released on Saturday, since the amount of stockpiled Rabi 2023 onions is decreasing, the move to enforce a Minimum Export Price (MEP) would assist preserve adequate supply of onions for local customers at reasonable costs.</p>
<p>At 71 places in Delhi-NCR, Jaipur (22), Ludhiana (12), Varanasi (10), Rohtak (6), and Srinagar (5), onions are sold at a discount via mobile vans. Mobile vans are being used in Bhopal, Indore, Bhubaneswar, Hyderabad, and Bangalore for the retail sale of reduced onions.</p>
<p>The cost of onions remained high in the nation’s capital, with the average retail price standing at Rs 78 per kilogram even as the wholesale prices in Maharashtra, a major supplier, began to decline after the implementation of export restrictions.</p>
<p>Official data indicates that on Tuesday, the average retail price of onions throughout all of India jumped by Rs 3.40 per kg to Rs 53.75 per kg.</p>
<p>Prices for onions in the nation’s capital began to rise on October 25 at Rs 40 per kg, and on October 29 they doubled to Rs 80 per kg.</p>
<p>However, prices decreased slightly to Rs 78 per kg on October 30 and stayed there on Tuesday as well, according to statistics from the ministry of consumer affairs.</p>
<p>In comparison to other states and union territories, Delhi now has the highest average retail onion pricing.</p>
<p>Goa and Puducherry had the second-highest price rise, with an average retail price of Rs 72 per kilogram on Tuesday.</p>
<p>Retail rates in other states ranged from Rs 41 to Rs 69 per kilogram.</p>
<p>Causes of the high cost</p>
<p>Official sources claim that despite 15-20 lakh tons of rabi crop stock being available in Maharasthra, which is enough to supply demand for a month, prices in both wholesale and retail marketplaces throughout the nation have skyrocketed simply owing to speculation.</p>
<p>The two-week delay in arrival and the probable decline in fresh kharif supply cannot be the only explanation for the abrupt increase in onion prices. According to the sources, the government has kept 5 lakh tons of buffer stock on hand and there is sufficient old crop stock to fulfill domestic demand.</p>
<p>Additionally, the sources said that the minimum export price of USD 800 per tonne of onions, which was imposed on October 29 and would remain in effect until the end of December, is aiding in the cooling of prices, particularly in Maharasthra, where prices dropped by 4–10% on October 30.</p>
<p>The kharif crop has begun to arrive in mandis in minor amounts, but larger quantities are expected to arrive from the major agricultural states of Karnataka, Maharasthra, and Andhra Pradesh starting in the second week of November.</p>
<p>The government will release buffer stock to boost availability and curb price increases until the fresh crop is introduced to the market. 1.8 lakh tons of onions have been put on the market so far.</p>
<p>Up to October 20 of current fiscal year, the nation exported almost 15 lakh tonnes of onions. Using official statistics, the total amount of onions exported during the fiscal year 2022–2023 was 25 lakh tons.</p>
<p>Three seasons are used to raise onions: rabi, late rabi, and kharif. Since the type cultivated this season has a longer shelf life, only rabi onions are preserved.</p>
<p>In an effort to increase onion supply on the home market, the Center imposed an MEP of USD 800 per tonne on onion exports until December 31 on Saturday. The MEP of USD 800 per tonne is equivalent to around Rs 67 per kilogram.</p>
<p>All onion varieties—aside from Bangalore Rose and Krishnapuram onions—as well as chopped, sliced, or broken onions in powder form are covered by the MEP.</p>
<p>According to official statements, the government is actively striving to lower onion prices and would keep releasing onions from its buffer supply as required.</p>

Related Articles

- Advertisement -
- Advertisement -
- Advertisement -
error: Content is protected !!