The government will buy 15 thousand tonnes of onion from farmers to create a buffer stock. It will be utilised for market intervention in the event of price rise during a lean season. Talking to reporters in New Delhi yesterday, Consumer Affairs Secretary C Viswanath said, the procurement of onions would begin from next month from Lasalgaon in Maharashtra. Last year, the retail price of onion had skyrocketed to about 60-80 rupees per kg. The sharp rise in prices had forced the government to boost supply in the market by purchasing onions from domestic as well as overseas market. He said, nodal agencies National Agricultural Cooperative Marketing Federation (NAFED) and Small Farmers' Agribusiness Consortium (SFAC) will do the procurement of onion. Mr Viswanath said, the Price Stabilisation Fund would be utilised for this purpose. He also said, the Ministry has been asked to prepare timely import plans for pulses and onions.
News On AIR | March 2, 2016 8:25 AM
Govt to buy 15,000 tonnes of onion from farmers to create buffer stock