Onion Price Raised To 5 lakh MT; NCCF To Sell At Rs 25/kg Starting Monday
This strategic move aligns with the aim of calibrated disposal of the procured stocks in crucial consumption hubs.
In an unprecedented move, the government has responded to the onion supply dynamics by increasing the onion buffer to a substantial 5.00 lakh metric tonnes this year. Having already achieved the initial procurement goal of 3.00 lakh metric tonnes, the Department of Consumer Affairs has directed key entities, namely NCCF and NAFED, to each acquire an additional 1.00 lakh tonnes, effectively expanding the procurement scope. This strategic move aligns with the aim of calibrated disposal of the procured stocks in crucial consumption hubs.
The process of onion disposal from the buffer has been set in motion, with a focus on prominent markets within states and union territories where retail onion prices surpass the national average or show considerable month-on-month increases. Presently, approximately 1,400 metric tonnes of onions from the buffer have been dispatched to these targeted markets, and the continuous release is expected to contribute to market stability.
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Going beyond market releases, the government is extending benefits to retail consumers by providing onions from the buffer at a subsidized rate of Rs.25/- per kilogram. This initiative will be rolled out through both retail outlets and mobile vans operated by NCCF, commencing on Monday, the 21st of August, 2023. Furthermore, retail sales will be further amplified in the near future, involving diverse agencies and e-commerce platforms to ensure wider accessibility.
The comprehensive strategy undertaken by the government encompasses multiple facets, including procurement for the buffer, targeted distribution of stocks, and the implementation of export duties. These collective measures are poised to generate favorable outcomes for both farmers and consumers. The farmers will benefit from assured remunerative prices, creating a stable livelihood, while consumers can rely on consistent onion availability at reasonable costs. This multifaceted approach underscores the government's commitment to striking a balance between agricultural prosperity and consumer affordability.
