Indian Ministry of Consumer Affairs, Food & Public Distribution on Wednesday said that the prices of onion this year are cheaper as compared to last year and the government’s effort to ease the prices is “now bearing results”.
The Ministry, in a press statement, informed that all India retail and wholesale prices of onion are presently Rs 40.13 per kg and 3215.92 per quintal respectively.
“It may be noted that onion prices had started rising from the first week of October 2021, due to rains that disrupted the supply chain. In order to cool down prices, the Department of Consumer Affairs has taken up calibrated and targeted release of onions from the buffer on First-in-First-Out (FIFO) principle, guided by the twin objectives of moderating prices and ensuring minimal storage loss,” the ministry said.
“Till November 2, 2021, a total of 1,11,376.17 metric tons (MT) has been released in major markets such as Delhi, Kolkata, Lucknow, Patna, Ranchi, Guwahati, Bhubaneshwar, Hyderabad, Bangalore, Chennai, Mumbai, Chandigarh, Kochi and Raipur. In addition, onions are disposed of in local markets in Maharashtra, Madhya Pradesh and Gujarat,” it added.
As per the statement, apart from releasing in the market, the Department of Consumer Affairs has also offered onions from the buffer at Rs 21 per kg to all states and Union Territories for lifting from the storage locations.