Retail onion prices: The ministry has stated that in states where there has been a sharp increase in prices, onion is being released from the buffer stock into both wholesale and retail markets.
As the average retail onion price in India rises by 57% to Rs 47 per kg, the Centre decided on Friday to increase the sale of buffer onions at a subsidized rate of Rs 25 per kg in retail markets to provide relief to consumers.
According to Consumer Affairs Ministry data, the average retail price of onion in India rose to Rs 47 per kg on Friday, up from Rs 30 per kg the previous year.
Based on the data, the cost of one kilogram of onions in the national capital was Rs 40 on Friday, marking an increase from Rs 30 per kilogram during the previous year. Rohit Kumar Singh, Secretary of Consumer Affairs, informed PTI, “We have been releasing buffer onions since mid-August, and we are intensifying retail sales to prevent further price hikes and offer relief to consumers.”
According to a senior ministry official, the delay in kharif onion sowing due to weather has resulted in less coverage and a late crop arrival. Fresh kharif onions should have arrived by now, but they haven’t. Due to the exhaustion of stored rabi onion and the delay in the arrival of Kharif onion, there is a tight supply situation, resulting in price increases in both wholesale and retail markets, the official added.
He also stated that the government has doubled the buffer onion stock for this year, which should improve domestic availability and keep prices in check in the coming days. The consumer affairs ministry, through NCCF and NAFED, has maintained a buffer onion stock of 5 lakh tonne for the fiscal year 2023-24 and plans to procure an additional 2 lakh tonne in the coming days.
