The Central agency National Agricultural Co-operative Marketing Federation of India (Nafed) is likely to start onion procurement on May 15, hoping to create a buffer stock. Last year, the agency started the procurement in the second half of April.
The average wholesale prices of summer onions have declined to Rs 700 per 100 kgs this year due to a rise in supply. Nafed officials said they would procure 80% of the total 150,000 tons summer onions from Nashik district and the remaining from Ahmednagar and other pockets in Maharashtra.
The federal government has set a target of creating a buffer stock of 250,000 tons of onions through its two central agencies.
Source: timesofindia.indiatimes.com