Onion Price Hike: The rising price of onion (Onion Price Hike) during the festive season can cause problems for the common people. Just before Diwali, onion prices have increased by more than 57 percent. According to PTI news, the price of onion in the retail market has reached Rs 47 (Onion Retail Price) per kg. In such a situation, the Central Government has also geared up to control its prices.
Government will sell ‘buffer stock’
To control onion prices, Modi government has taken a big step and ordered to increase the sale of buffer stock of onion to the customers at the rate of Rs 25 per kg. According to the data released by the Ministry of Consumer Affairs, at this time last year onion was being sold at the rate of Rs 30 per kg in the retail market. At present, the price of onion in the retail market has reached Rs 40 per kg.
Buffer stock’ is being sold in the market
Consumer Affairs Secretary Rohit Kumar Singh while talking to PTI said that to control the prices of onion in the market, the buffer stock of onion is being released in the market from August 2023 itself. The government is trying to ensure that there is adequate availability of onion in the market and the price remains under control. From August 2023 till now, the Central Government has sold a total of 1.70 lakh tonnes of onion buffer stock in 22 states. It is worth noting that the onion buffer stock of the Central Government is being sold by the National Agricultural Cooperative Marketing Federation of India (NAFED) and the National Consumer Cooperative Federation of India (NCCF).
Why did onion become expensive?
According to experts, there are many reasons behind the increase in onion prices. Delay in sowing of Kharif crop is one of the main reasons for this. Delay in sowing of crops has resulted in delay in crop yield. The effect of which is visible on the wholesale and retail onion prices. According to the data of the Ministry of Consumer Affairs, in the financial year 2023-24, the Central Government is going to sell a total of 5 lakh tonnes of onion buffer stock in NAFED and NCCF in the market. Apart from this, the government is planning to sell additional 2 lakh tonnes of onion.
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