One lakh tonnes of onion buffer stocks will be raised in the new year

New delhi date. 30 December 2019, Monday

The government has decided to raise 1 lakh tonnes of onion buffer stocks in this year to avoid a repeat of onion prices and the crisis created this year. The government has created a buffer stock of 2 tonnes of onion for 2, but this has not been enough to control prices. In most cities of the country, onion prices are still at Rs 5 per kg. This has forced the government to import through the MMTC.

The issue was discussed at a recent meeting of the Group of Ministers led by Home Minister Amit Shah. The meeting decided to raise one lakh tonnes of buffer stocks next year, a government official told PTI.

Cooperative Nafed, which maintains onion buffer stocks on behalf of the government, will also maintain it next year. Nafed Ravi will buy onion because it lasts a long time. From March to July, Nafed will buy goods directly from the farmers.

Onion prices soared this year due to fall in kharif crops and loss of crops due to poor rainfall. To curb onion prices, the government took steps to ban exports, including stock limits and imports.

The government marketed the buffer stocks it had, and imported goods are currently being imported. MMTC has signed an agreement to buy 3 tonnes of onion from Turkey, Afghanistan and Egypt.