Centre to procure 5 lakh tonnes of onions at ₹2,410/qtl, sell at a subsidised rate of ₹25 kg: Piyush Goyal

livemint.com:

₹2,410 per quintal in Maharashtra and MP for buffer stock, said the Commerce and Consumer Affairs Minister Piyush Goyal on Tuesday. To curb the rising price of onion ahead of festive season, the vegetable is also sold at a subsidised rate of ₹25/kg for consumers in different regions, he added. The essential component of Indians' kitchen, onion, witnessed a sudden rise in price ahead of the festival season.

In response to the rising prices, the government imposed a 40 per cent export duty, on onions to restrict outward shipments and boost local availability amid apprehension about the Kharif output. “On 17th August, two important decisions were taken, on the export 40% tax has been imposed. But along with this, NCCF and NAFED will buy 5 lakh tons of onions instead of 3 lakh, so that our farmers don't have any problems.

Two lakh tons will be bought at ₹2410 per quintal," said Piyush Goyal at the press conference. In addition to impose export duty on onion, the government has also begun the procurement of additional 2 lakh tonnes of onion from farmers so that they are not affected by the export curb, said Piyush Goyal in a media briefing. "NCCF and NAFED will sell onions at a subsidised rate of ₹25 kg for consumers in different regions.

This subsidy will be provided by the government. This work started yesterday...Both consumers and farmers are valuable to us. Our food giver(farmers) gets a good price.