Government bans onion export, puts limit on stocks amid rising prices

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The Commerce Ministry on Sunday banned the export of all kinds of onions with instantaneous impact to improve the domestic availability of the commodity and provide comfort to buyers.

Retailers can store onion only as much as 100 quintals and wholesale traders are allowed to hold up to 500 quintals, the Consumer Affairs Ministry said, adding that the state governments were directed take strict measures to save you hoarding.

The reported export below minimum export fee (MEP) to Bangladesh and Sri Lanka can be stopped right away and strict motion might be taken towards violators.

The flow comes amid a pointy increase in retail prices of the onion since August notwithstanding the authorities’ several measures to enhance the delivery and include cost rise.

Currently, retail onion fees are ruling at around Rs 60-80 in step with kg inside the national capital and a few other elements of the United States due to supply disruption from flood-affected developing states like Maharashtra and Karnataka.

The Centre has promised to bridge the deliver gap, preserving in thoughts the sensitivities regarding onion crop, even greater so within the run-as much as the Assembly election in Haryana and Maharashtra.

Haryana, Andhra Pradesh, Delhi, Tripura, and Odisha are pronounced to have demanded onions from the Centre.

Meanwhile, to offer comfort to clients from high expenses, the relevant authorities are offloading 50,000 tonnes of buffer stock of onion throughout the country. State-run Mother Dairy and cooperatives Nafed and NCCF are selling buffer inventory onion at a cheaper charge of Rs 23.90 according to kg in Delhi.

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