Govt creating 50,000 tonne of onion buffer to curb price rise

June 04, 2019 14:55

The Centre has started creating a buffer stock of 50,000 tonne of onion to check prices in the coming months in view of drought conditions in producing states, a senior food ministry official said Tuesday. Wholesale prices at Lasalgaon in Maharashtra,

Asia's largest wholesale market for onion, have shot up by over 29 per cent to Rs 11 per kg Tuesday when compared to Rs 8.50 per kg on the same day a year ago, as per official data. In the national capital, retail onion prices are ruling at Rs 20-25 per kg depending on the varieties, as per the trade data.

"Due to drought conditions in producing region, the production of rabi onion is expected to be lower. The likely shortfall in production may put pressure on both availability and prices during the lean season," the official told PTI.

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