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The central government will continue procuring onions from farmers, and its intervention in both retail and wholesale will persist, according to Consumer Affairs Secretary Rohit Kumar Singh.
He also emphasized the importance of balancing the interests of both farmers and consumers and that "their interests are equally important." "We can increase the procurement of onions if required. Out of the seven lakh tonne target (as buffer stock), we had procured 510,123 tonnes," the secretary said. The government's assurance comes amid rising onion prices in Indian markets. Singh noted that the government is procuring onions at an average rate of Rs 25-26 per kilogramme. "Due to government policy, traders and exporters who were purchasing at lower rates and exporting at higher rates with huge margins are now affected," added the secretary. He also highlighted that timely government intervention prevented onion prices from reaching Rs 100 per kg last month. "Had the central government not taken steps on time, onion prices would have touched Rs 100 per kg in November," he said. Currently, onions are sold at around Rs 60 per kg in retail markets. Last week, India prohibited onion exports until March 2024, with exceptions granted by the central government based on other countries' requests. "The export of onions will be, however, allowed based on permission granted by the central government to other countries based on the requests made by the countries," according to a government notification. The central government had, though, exempted the export of 'Bangalore rose onion' from the export duty, with a small rider: goods meant for export shall be allowed to be exported subject to the exporter furnishing a certificate from the Horticulture Commissioner, Government of Karnataka, certifying the item and quantity of Bangalore Rose Onion to be exported. Bangalore rose onion is a variety of onion grown in and around Bengaluru, Karnataka. This variety obtained the Geographical Indication tag in 2015. Faced with rising onion prices, the central government has been releasing the staple vegetable from its buffer stock. Initially set at 3 lakh tonnes for the 2023-24 season, the buffer stock target was later revised to 7 lakh tonnes. In 2022-23, the government maintained a 3 lakh tonne onion buffer stock for exigencies and price stabilization during lean supply seasons. (ANI)
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