Anticipating rise in price of onion in retail markets ahead of general elections 2024,the Centre has raised the quantum of onion buffer to 5.00 lakh metric tonne this year, after achieving the initial procurement target of 3.00 lakh metric tonne.
This unprecedented move of the Modi government via the Department of Consumer Affairs has directed NCCF and NAFED to procure 1.00 lakh tonne each to achieve the additional procurement target alongside calibrated disposal of the procured stocks in major consumption centres.
Already, disposal of onions from the buffer has commenced, targeting major markets in States and UTs where retail prices are above the all-India average and/or are significantly higher than the previous month.
As on date, about 1,400 MT of onions from the buffer has been dispatched to the targeted markets and are being continuously released to augment the availability.
Apart from releasing in major markets, onions from the buffer are also being made available to retail consumers at a subsidized rate of Rs.25/- per kg through retail outlets and mobile vans of NCCF from tomorrow ie Monday 21st August 2023.
Retail sale of onion will be suitably enhanced in coming days by involving other agencies and e-commerce platforms.
The multipronged measures taken by the Government onion like procurement for the buffer, targeted release of stocks and imposition of export duty will benefit the farmers and consumers by assuring remunerative prices to the onion farmers while ensuring continuous availability to the consumers at affordable prices.