Govt steps up buffer stock sale to control onion prices after duty removal

The government has intensified its efforts to check onion prices by stepping up the sale of buffer stock in wholesale markets, following a spike in retail prices after the recent removal of export duty. Consumer Affairs Secretary Nidhi Khare on Monday said the Centre has begun offloading onions from its buffer stock in wholesale markets of Delhi and other key cities, with plans to expand subsidised retail sales nationwide. "We anticipated a price surge after lifting the export duty. With our 4.7 lakh tonne buffer stock and increased kharif sowing area, we expect to keep onion prices in check," Khare told reporters here. The government plans to increase retail sales of onions at a subsidised rate of Rs 35 per kg across India, focusing on cities where prices exceed the national average. Official data shows retail onion price in Delhi at Rs 55 per kg on September 22, up from Rs 38 per kg a year ago. Prices in Mumbai and Chennai have reached Rs 58 and Rs 60 per kg, respectively. Sinc
Read The Rest at :