The government has bought about 71,000 tonnes of onion for buffer stock so far this year. For price stabilization, the government has set a total target of buying 5 lakh tonnes of onion. The government hopes that the retail prices of onion will decrease with the progress of monsoon in most parts of the country. According to the data of the Department of Consumer Affairs, the all-India average onion retail price on Friday was Rs 38.67 per kg, while the model price was Rs 40 per kg. The government had bought 74,071 tonnes of onion in the same period last year. A senior official of the department said that till June 20, the central government has bought 70,987 tonnes of onion, while 74,071 tonnes of onion was bought in the same period last year. The official said, ‘This year the pace of buying onion for price stabilization buffer is the same as last year. However, Rabi production has declined by about 20%.’ The government is moving towards achieving the target of purchasing 5 lakh tonnes. The official said that the government is moving towards achieving the target of purchasing 5 lakh tonnes for price stabilization. To maintain stability in onion prices, the government will adopt the option of keeping or releasing onions from the buffer stock. The purchase price of onion keeps changing, which is linked to the current market price. To control prices, the government is taking steps in a phased manner. To control prices, the government has been taking steps in a phased manner since August last year. Which started with 40% export duty. After this, in October 2024, the Minimum Export Price (MEP) was made $ 800 per tonne. At the same time, onion export was banned from 8 December 2023. These measures have helped in maintaining the domestic availability of onion at stable prices. In view of the possibility of good Kharif production based on sufficient stability in major mandis like Lasalgaon in Maharashtra and the forecast of above normal monsoon this year, the ban on onion export was lifted from May 4, 2024 and MEP of $550 per tonne and 40% export duty was imposed. Production of green vegetables affected due to severe heat The official said, “Due to the prolonged severe heat in large parts of the country, the production of green vegetables has been affected. Apart from this, the prices of many vegetables including tomatoes, potatoes and onions have increased.” He said that the situation is expected to improve with the arrival of monsoon in most parts of the country. Onion production expected to be 254.73 lakh tonnes in 2023-24 In March, the Union Agriculture Ministry had released onion production figures. According to the data, onion production is expected to be around 254.73 lakh tonnes in 2023-24 (First Advance Estimates), as against about 302.08 lakh tonnes produced last year. According to the data, this is due to a decrease in production 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.
