Indian Government to release 50 thousand tonnes of onions for sale in the open market
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16 July 2022, New Delhi: Breaking the previous records, the Center has procured 2.50 lakh tonnes of onions for buffer in the year 2022-23. The buffer stock of onions in the current year is 0.50 lakh tonnes more than the 2.0 lakh tonnes created during the year 2021-22.
Onion was procured from Rabi crop for price stabilization buffer. This stock has been procured by National Agricultural Cooperative Marketing Federation of India (NAFED) from farmers through Farmer Producer Organizations (FPOs) in Rabi onion producing states of Maharashtra, Gujarat and Madhya Pradesh.
This stock (0.50 lakh tonne) will be released for sale in selected open market and will also be made available to state government agencies for retail outlets during the price hike during low availability months (August-December). The release of onions in the open market would be targeted to those states/cities where the prices are increasing as compared to the previous month and also in major mandis to increase the overall availability.
This price stabilization buffer serves the twin objectives of providing remunerative prices to farmers and increasing the availability of onions at affordable prices to consumers. Rabi onions harvested during April-June account for 65 per cent of India’s onion production and meet the demand of consumers from October-November till the harvesting of Kharif crop. Hence, it is important to successfully store onions to ensure regular supply.
