Be rest assured, onion price will not increase this year
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Onion Price: Last year, the rising price of onion had troubled the common people. At the same time, it had become a problem for the government also. To reduce the price, the government had to make onions available at cheaper rates at many places. Keeping this in view, the Central Government has already made preparations. It is being told that the government has extended the ban on export of onion till further orders to increase domestic availability and keep prices under control. The Commerce Ministry has also issued a notification for this. Earlier this year, export of onion was banned till March 31. At present onion is available in the market at Rs 20 to Rs 25 per kg. It is understood that after the arrival of local onion in the market, the price may come down further.
What did the government say in the notification
Directorate General of Foreign Trade (DGFT) said in a notification on March 22 that the ban on onion exports has been extended till March 31, 2024, until further orders. DGFT is a branch of the Commerce Ministry, which decides on issues related to exports and imports. The government banned the export of onion on December 8, 2023. Onion production in Rabi season, 2023 is estimated to be 2.27 crore tonnes. After getting approval from the inter-ministerial group, export of onion to friendly countries is allowed in some special cases. The government has allowed export of 64,400 tonnes of onion to UAE and Bangladesh through National Cooperative Export Limited (NCEL). Earlier, the Center had decided to increase the sale of buffer onion stock at a concessional rate of Rs 25 per kg in the retail markets in October 2023 to provide relief to consumers.
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Government increased stock
To control prices in the current financial year, a buffer stock of seven lakh tonnes of onion has been created by the Central Government. In December last year, it was told by the government that the Center has purchased 5.10 lakh tonnes of onion to create a buffer stock of the main kitchen food item for the current financial year. Out of the total 7 lakh tonnes of onion for the current financial year, 5.10 lakh tonnes have been purchased so far. The remaining amount – two lakh tonnes – will also be purchased soon.
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