Government Releases Buffer Stock To Curb Onion Prices

Government has released buffer stocks of onion to curb its prices
Government has released buffer stocks of onion to curb its prices

As prices of most consumed vegetables onions, tomatoes and potatoes continue to soar, the government on Sunday announced that onion prices are being controlled by releasing its buffer stock.

Ministry of Consumer Affairs in a statement said that efforts are also on to reduce the prices of tomatoes and potatoes.

In a calibrated manner, onion stocks are being released in mandis on first-in-first-out basis since end of August, official sources. This will not only help in reducing onion prices but also ensure minimum storage losses, they added.

Due to these efforts, retail onion prices were in the range of Rs 42 to Rs 57 per kg in metro cities as on October 14. At the same time, the all India average retail price was lower at Rs 37 per kg, while the average wholesale price was Rs 30 per kg as on October 14, the ministry said.

Prices of onion in four metros

Onion retail prices in the four metro cities vary. In the national capital, its retail price as on October 14 was Rs 44 per kg, in Chennai it is priced at Rs 42 per kg, in the commercial capital Mumbai its price was Rs 45 per kg, while it is the costliest in Kolkata at Rs 57 per kg.

Buffer stocks of onion are being released in those states where prices are more than the all India average and also where prices are on the rise since September.

"Till October 12, a total of 67,357 tonnes of onion have been released in major markets such as Delhi, Kolkata, Lucknow, Patna, Ranchi, Guwahati, Bhubaneshwar, Hyderabad, Bengaluru, Chennai, Mumbai, Chandigarh, Kochi and Raipur," the ministry statement said.