look news india
Onion Price: The rising prices of vegetables have hit the common people hard. Retail inflation in October was lower than RBI estimates due to rising food prices. Retail inflation rate in October was 6.21 percent, which has reached the highest level in 14 months.
There has been a huge rise in onion prices since the month of July. Senior consumer affairs officials said that onion prices may fall in the coming days. Onion prices may reduce after the Kharif crop arrives in the market. In fact, this year, due to low production of onion in Rabi crop and failure of onion crop in monsoon, its price has increased.
According to a government official, the current retail price of onion across the country is Rs 54 per kg. This price has fallen significantly in the last one month. Actually, the government had decided to sell onions at concessional rates in October. The government had started selling onions kept in buffer stock at a concessional rate of Rs 35 per kg. This decision has been taken to control the rising price of onion.
The government has a buffer stock of 4.5 lakh tonnes of onion, out of which 1.5 lakh tonnes has been sold. The government is focusing on supply to keep onion prices under control.