Onion Price Hike: Tomato became cheaper, but onion is still showing color, know when the kitchen budget will be restored
[ad_1]
onion price hike: The festive season has started in India. But, even after the efforts of the government, the common people are not getting relief from the inflation of food items. A few days ago, the taste of the plate had deteriorated due to the price of tomatoes. At the same time, now onion is making people sweat. Right now the prices of onion have reached Rs 30 to 35 in retail. However, experts say that in the month of September, its price can increase up to two times from the current price. A report by Crisil Market Intelligence and Analytics states that onion prices can reach Rs 60-70 per kg during the month of September.
Relief is not going to come now
Market experts say that the availability of onions in the domestic market has increased due to the imposition of 40 percent tax on onion exports by the government. But, the price is still going to increase. The reason for this is said to be the low production of onions. The National Cooperative Consumer Federation of India (NCCF) has said that it has bought 2,826 tonnes of onions directly from farmers in the last four days. This purchase was done at the rate of Rs 2,410 per quintal. The government has increased the target of onion buffer stock from three lakh tonnes to five lakh tonnes this year. While curbing exports to control domestic prices, the government also wants farmers not to sell in panic. That’s why two cooperative societies – NCCF and NAFED have been ordered to buy one lakh tonnes of onions directly from the farmers. Both the cooperative societies are selling the government’s buffer stock in the wholesale and retail markets.
Around 12-13 procurement centers were opened in Maharashtra
NCCF Managing Director Anees Joseph Chandra said that the cooperative started direct procurement from farmers in Maharashtra and Madhya Pradesh on 22 August. He told that about 12-13 procurement centers have been opened in Maharashtra and their number will be increased on the basis of demand. Chandra said that in the last four days, we bought around 2,826 tonnes of onions. Most of the purchases have been made from Maharashtra. The target is to buy a total of one lakh tonnes. He said that NCCF is procuring onion directly from farmers at Rs 2410 per quintal, which is higher than the current wholesale rate of Rs 1900-2000 per quintal.
Maharashtra, MP buying onions at Rs 2,410 per quintal: Goyal
Consumer Affairs Minister Piyush Goyal imposed a 40 per cent export duty on onions on August 19 to increase domestic availability amid fears of a price hike. This export duty will continue on onions till 31 December 2023. Along with this, the Center has also decided to buy additional two lakh tonnes of onions from the farmers. He said that the government will increase the size of the ‘buffer stock’ and will buy more from the farmers if needed. Commerce and Consumer Affairs Minister Piyush Goyal told reporters that besides imposing export duty on onions, the government has decided to buy an additional two lakh tonnes of onions from farmers for ‘buffer stock’. He said this is a historic rate and much higher than the average Rs 1,800-1,900 per quintal that farmers usually get from exports.
Crisis in Nepal due to India’s decision to impose 40 percent export duty on onions
According to media reports, Nepal is facing a huge shortage of onions after India imposed 40 percent export duty on onions. According to the news of the newspaper ‘Kathmandu Post’, India last week imposed a 40 percent export duty on onions till December 31 to restrict foreign sales. This step was taken amid apprehension of increase in prices in view of the upcoming festivals. India’s imposition of 40 percent export tax affected Nepal the most. Many traders have reported a sudden shortage of onions in Nepal’s biggest wholesale market ‘Kalimati Fruit and Vegetable Market’. In the news, Binay Shrestha, the information officer of the country’s largest wholesale market, said that there has been a huge shortage of onions in the markets of Nepal. No onion consignment has been distributed since Sunday and the remaining stock will be empty by Monday.
[ad_2]
Source link
