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.
