As soon as Dussehra is over, onion raised its eyes, so what will happen in Diwali? Retail market prices increased by 57 percent
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New Delhi : As soon as the holy festivals like Navratri and Dussehra are over in the country, onion prices have once again skyrocketed in the market. The situation is that its prices in the retail market have increased by about 57 percent. According to the agency report, the all India average retail price of onion has increased by 57 percent to Rs 47 per kg. However, in Jharkhand-Bihar its prices have reached Rs 60 per kg. After the sudden increase in onion prices, the central government on Friday decided to increase the sale of onion from ‘buffer stock’ in the retail markets at a concessional rate of Rs 25 per kg to provide relief to consumers.
How much did the retail price of onion increase?
The all-India average retail price of onion rose to Rs 47 per kg on Friday from Rs 30 per kg in the same period a year ago, according to data released by the Consumer Affairs Ministry. According to the data, the retail price of onion in the national capital on Friday was Rs 40 per kg, while it was Rs 30 per kg in the same period a year ago.
Government is selling onions from buffer stock
Consumer Affairs Secretary Rohit Kumar Singh said that we are providing onions from the buffer stock since mid-August and we are increasing retail sales to prevent further increase in prices and to provide relief to consumers. According to the ministry, in states where prices are increasing rapidly, onion is being supplied from buffer stock in both wholesale and retail markets. Since mid-August, about 1.7 lakh tonnes of onion was supplied from ‘buffer stock’ to various places in 22 states.
Government agencies entered the retail market
In the retail markets, onions from ‘buffer stock’ are being sold at a concessional rate of Rs 25 per kg through the shops and vehicles of two cooperative bodies, National Consumer Cooperative Federation of India (NCCF) and National Agricultural Cooperative Marketing Federation of India (NAFED). In Delhi too, onion from buffer stock is being sold at the same concessional rate.
Trouble increased due to harsh weather
A senior official of the ministry said that delay in sowing of Kharif onion due to weather related reasons resulted in less crop and delay in arrival of the crop. The official said that the arrival of fresh Kharif onions should have started by now, but it did not happen. The supply situation is poor due to depletion of stored Rabi onions and delay in arrival of Kharif onions, resulting in rising prices in both wholesale and retail markets.
He said that the government has doubled the ‘buffer stock’ for onion in the current year 2023-24. This will improve domestic availability and curb rising prices in the coming days. For the financial year 2023-24, the Ministry of Consumer Affairs has maintained a ‘buffer stock’ of five lakh tonnes through NCCF and NAFED and plans to purchase an additional two lakh tonnes of onion in the coming days.
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