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Onion Price: Onion prices will be controlled soon! Modi government took this big step

To increase the availability in the domestic market and to provide relief to consumers from the rising prices of onions, the central government imposed stock limits for both retailers and wholesalers with immediate effect till 31 December. Retail traders can now keep only two tonnes of onion stock in their godowns, while wholesale traders will be allowed to keep up to 25 tonnes of onions. This step has been taken to prevent hoarding and black marketing of onions. Onion prices have risen above Rs 75 per kg due to heavy rains in the last few weeks due to the damage to the kharif crop of onion in the producing areas and its hoarding. Also Read – PM Kisan Samman Yojana Update: These people cannot apply in PM Kisan Yojana for financial assistance of Rs. 6000, know the rules of the scheme

Consumer Affairs Secretary Leena Nandan said, “This is a decisive step. We have fixed the stock limit till 31 December with immediate effect on onion traders. There has been growing concern that traders are gradually bringing their stored stock into the market, creating an artificially inflated price situation. ” He said that the recently passed Essential Commodities (Amendment) Act to the government , 2020 had to be implemented, which gives the government the right to regulate agricultural commodities only in the event of extraordinary price increases. Also Read – Pradhan Mantri kisan Maandhan Yojana: Government is giving 36 thousand rupees annually to farmers, more than 44 lakh people registered

He said that in the case of onions, the average all-India retail price of onions on October 21 was Rs 55.60 per kg, which exceeded the affordable limit as per the formula specified under the Essential Commodities (Amendment) Act. The all-India average retail price of onion was Rs 55.60 per kg, which was 22.12 per cent higher than the previous year’s Rs 45.33, while it rose 114.96 per cent over the previous five-year average price. In this sense, the retail price actually exceeded twice that. This is the reason why it was decided to impose stock limits on this commodity. Also Read – Increased atrocities against Dalits, Indian democracy is going through the most difficult period: Sonia Gandhi

Consumer Affairs Minister Piyush Goyal later tweeted that the Modi government has taken this step to curb hoarding and curb prices. Stock limit has been imposed on onion retailers and wholesalers. Highlighting other measures taken to curb the rising prices of onions, the Secretary said that the government has decided to increase domestic supply through imports. The state-owned MMTC will soon issue a tender to import red onion.

The secretary said that the government had already started a diagnostic measure by announcing a ban on onion exports on 14 September itself. He said, ‘Thus, the retail price increase has come down to some extent, but recently reports of heavy rains in the onion producing districts of Maharashtra, Karnataka, Andhra Pradesh and Madhya Pradesh have raised concerns about damage to the Kharif crop. ‘

He said that in order to deal with the current situation, the government has started to unload the buffer stock of one lakh tonnes of onions made in 2019-20 from the latter half of September on a fast pace, but this is being done by default is. The government said that the kharif crop may come in the mandis from next month. He said that according to the expectation, with the arrival of 37 lakh tonnes of Kharif onion, its availability will improve.

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Kim Diaz

Kim recently joined the team, and she writes for the Headline column of the website. She has done major in English, and a having a diploma in Journalism.

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