Onion Price: Now onion inflation will not make you cry, Modi government took tremendous action, know the details now
[ad_1]
Onion Price Hike: Action is being taken by the Central Government at every level to control the rising food inflation. The central government has banned the export of rice and onion to maintain the availability of it in the domestic market. Along with this, Consumer Affairs Secretary Rohit Kumar Singh has informed 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. He said the remaining amount – two lakh tonnes – would also be purchased soon. Meanwhile, to ensure availability of onions at affordable prices to domestic consumers, a ban on export of onions has been imposed – which came into effect from December 8 this year, he said. The department said in a statement that the government took the decision keeping in mind global conditions such as delay in arrival of kharif crops, volume of onions exported and trade and non-trade restrictions imposed by major suppliers such as Turkey, Egypt and Iran. took. The government is continuously purchasing onions from farmers under the Price Stabilization Fund (PSF) to ensure that they are not adversely affected.
Farmers will not be affected
Consumer Affairs Secretary Rohit Kumar Singh said the government expects onion prices to come down to below Rs 40 per kg by January from the current average price of Rs 57.02 per kg. The government had last week banned the export of onion till March next year after the retail selling price of onion in the national capital crossed Rs 80 per kg and the prices in the mandis remained around Rs 60 per kg. When asked when onion prices are expected to come below Rs 40 per kg. In response he said that very soon… in January. Speaking on the occasion of ‘Deloitte Growth with Impact Government Summit’, he said that someone has said that the price will touch Rs 100 per kg. We said that it will never cross Rs 60 per kg. The all India average stood at Rs 57.02 per kg this morning and will not cross Rs 60 per kg.
Some traders were taking advantage of the difference in prices
Rohit Kumar Singh said that the export ban will not affect the farmers and it is a small group of traders who are taking advantage of the difference between the prices in the Indian and Bangladesh markets. Traders who were taking advantage of different prices will suffer losses. But Indian consumers will benefit from this. Onion inflation in the Consumer Price Index (CPI) has been in double digits since July, reaching a four-year high of 42.1 percent in October. In this financial year, 9.75 lakh tonnes of onion was exported from the country between April 1 and August 4. The top three importing countries in terms of value are Bangladesh, Malaysia and United Arab Emirates. The government has taken several steps to control prices. A minimum export price (MEP) of US $ 800 per tonne has been imposed on onion exports from October 28 to December 31 this year. Also, in August, India had imposed 40 percent export duty on onion till December 31. Wholesale price inflation of vegetables declined to minus 21.04 percent in October. However, the annual price growth rate of onion remained at a high level of 62.60 percent this month.
[ad_2]
Source link
