National Agricultural Cooperative Marketing Federation of India

India: Federation starts procurement of onions from Lasalgaon

The National Agricultural Cooperative Marketing Federation of India (Nafed) is to procure some 50,000 tons of onions, which includes 45,000 tons from Maharashtra and 5,000 tons from Gujarat. This is expected to be Nafed's largest procurement from Maharashtra, so far.

Some 25 tons of onions were procured at an average rate of Rs 1,037 per 100 kg (€13.28) on Tuesday. The procurement is being made under the Centre’s Price Stability Fund (PSF) to keep prices stable and tackle scarcity of onions at a later stage.

Onion scarcity usually occurs between July and October. A large section of onion farmers had suffered huge losses last year due to price fall. The government announced a compensation package to make up for their losses.

Confirming the development, Jaydutt Holkar, chairman, Lasalgaon Agricutlure Produce Market Committee ( APMC), said that onions are being procured by Nafed as per availability of storage space. The purchase started a couple of days ago, he said.

Source: financialexpress.com

 


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