New Delhi: Keeping in mind the skyrocketing prices of onions in the country, the Ministry of Consumer Affairs on Tuesday revised with immediate effect the stock limits for wholesalers and retailers in the country. The step has been taken from the Ministry in an effort to curb hoarding of onions.
As per updates, the stock limit for wholesalers has been set at 25 metric tonnes (MT), while for retailers, it has been set at 5 metric tonnes. Previously, retailers were allowed to hold onion stock up to 10 tonnes and wholesalers up to 50 tonnes. As per the new order, they can now only hold half of it.
“Provided that an importer, being a wholesaler or retailer or dealer, shall be exempted for the imported stock of onions,” the statement from the ministry stated.
The development comes a day after Cabinet Secretary Rajiv Gauba held a meeting with Chief Secretaries of 11 major onion producing states to review the issue of rising prices. The ministry said it is closely monitoring the prices of onions.
To keep the price rise under control, the Ministry had earlier stated that it has placed order for import of 11,000 MT of onion from Turkey in addition to 6,090 MT from Egypt.
According to the Ministry of Consumer Affairs, the Metals and Minerals Trading Corporation of India has already placed the order. The onion will start arriving in later this month.
After the review meeting on Monday, the Centre had asked state governments to crackdown on traders hoarding onions, create buffer stocks and distribute imported edible bulb at a reasonable rate. At present, onions are being sold at a high price of Rs 75-100 per kg in major cities across the country.
As part of its efforts to contain the price of onions, the Centre earlier had banned onion exports and decided to import 1.2 lakh tonnes of onions, besides imposing stock holding limit on traders.