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Indian government undertakes targeted release of onions to check prices

This weekend, the Indian government said it is carrying out ‘calibrated and targeted release’ of onion stocks from its buffer for moderating rising prices. The Department of Consumer Affairs has taken up calibrated and targeted release of onions from the buffer on First-in-First-Out principle commenced from the last week of August 2021, guided by the twin objectives of moderating prices and ensuring minimal storage loss.

"As a result of this continued monitoring and moderating, the retail price of onion in Delhi is Rs 44/kg as on October 14. Similarly, in Mumbai, Kolkata and Chennai, the prices are Rs 45/kg, Rs 57/kg and Rs 42/kg, respectively. The all India retail prices of onion on October 14 was Rs 37.06 per kg while the all India wholesale price of onion was Rs 3,002.25 per 100 kgs," a Department release reads.

The releases are targeted towards states/UTs where prices ruled above the all-India average and also where prices are on rising over the previous month, it said.

[ Rs 100 = €1.20 ]

Source: menafn.com


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