New Delhi. This year, the onion crop in Kharif has suffered huge losses due to drought and then unseasonal rains in the country. In view of this, to keep onion prices low in the country, the government has banned the export of onion till March 31. Despite this, the government fears that onion shortage or inflation could become a major election issue in the election year. The government has started taking precautions regarding this. According to sources, the government is planning to buy 5 lakh tonnes of onion for its buffer stock this year. Which can be used to intervene in the market in case of price increase.
According to sources, the Ministry of Food and Consumer Affairs had created a buffer stock of 5 lakh tonnes last year. Out of which 1 lakh tonnes is still available. Agencies like NCCF and NAFED will procure onions on behalf of the government. Sources said the government’s decision to sell onions at concessional rates from its buffer stock has helped control prices. The government will take a decision on lifting the ban on onion exports at the end of this month. This ban is till 31 March. The government’s plan to create buffer stock comes amid a projected decline in onion production in 2023-24.
Why is there such a huge demand in Muslim countries, now smuggling of onion has started, you will be shocked to know the profit.
The Agriculture Ministry said in a statement on Thursday that ‘Onion production in 2023-24 is expected to be around 254.73 lakh tonnes, whereas last year it was around 302.08 lakh tonnes. There has been a decrease in onion production by 34.31 lakh tonnes in Maharashtra, 9.95 lakh tonnes in Karnataka, 3.54 lakh tonnes in Andhra Pradesh and 3.12 lakh tonnes in Rajasthan. Onion production in 2023-24 has declined by 16 percent compared to last year. According to the data, onion production in 2021-22 was 316.87 lakh tonnes.
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Tags: onion crop, Onion new rate, Onion Price, Onion Production
FIRST PUBLISHED: March 10, 2024, 16:33 IST