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Onion Price News: The government is trying to control inflation in the country. For this, the government is continuously making changes in the import export policy. To control the rising inflation of onion, the government Ban on export of onion (Onion Export Ban) has been imposed. Due to this the price of onion is falling. Meanwhile, the export ban on onion will be lifted after March 31. Even after this, the government has made a plan to stop the rise in onion prices.
Government will create buffer stock of onion
On December 8, 2023, the government had imposed an export ban on onion. The government had said that this export ban is till 31 March 2024. Meanwhile, in view of the increasing protest by farmers, the government has given permission to export 50 thousand metric tons of onions to Bangladesh. Meanwhile, the export ban on onion will be lifted after March 31, so the price of onion is expected to increase after March 31. In this background, the government has made a plan to ensure that the rates do not increase. Onion production is expected to decline in 2023-24. Therefore, the government is going to create a buffer stock of onion. Although onion prices are currently under control, the central government has already started planning for the future. The government is trying to control the possible increase in onion prices. Even if there is an onion crisis after March 31, the government has already started preparations so that the common man does not have to face problems. Let us see what plan the government has made for onion.
Thinking of buying 5 lakh tonnes of onion
The government plans to purchase five lakh tonnes of onion for buffer stock this year. This can be used to control if prices rise. Sources said agencies like NCCF (National Cooperative Consumers Federation of India Ltd) and NAFED (National Agricultural Cooperative Marketing Federation of India Ltd) will procure onions on behalf of the government. The Ministry of Food and Consumer Affairs had created a buffer stock of five lakh tonnes last year. One lakh tonnes of them are still available.
Sale of onion at discounted price from buffer stock?
Sources said the government's decision to sell onions at concessional rates from the buffer stock will help in keeping prices under control. By the end of this month the government will take a decision on lifting the ban on onion export. This ban is till 31 March 2024. The government is planning to create a buffer stock in view of the possibility of decline in onion production in 2023-24.
Onion production is estimated to be 254.73 lakh tonnes in 2023-24.
Meanwhile, according to the statement issued by the Agriculture Ministry, onion production in 2023-24 is estimated to be around 254.73 lakh tonnes. Whereas last year it was around 302.08 lakh tonnes. This reduction in total production is expected to be due to production reduction of 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. , According to the data, onion production in the financial year 2021-22 was 316.87 lakh tonnes.