New Delhi: The central government will maintain 3 lakh tonnes of onions as buffer stock in the 2023-24 season, Union Food Minister Piyush Goyal informed Parliament on Wednesday. In 2022-23, the government is maintaining 2.51 lakh tonnes of onions as buffer stock. Buffer stock maintained to meet any emergency and for price stabilization if rates increase significantly during the low supply season.
Minister Goyal’s response was in response to a question raised by a Member of Parliament about the remedial measures being taken by the government to stabilise/reduce the prices of essential food items to protect the interests of common people. Keeping in view the volatility in onion prices, the Government procured a record 2.51 Lakh MT of Onion from Rabi-2022 crop under Price Stabilization Fund (PSF) and released it to major consumption centers during September 2022 and January 2023 . answer.
“The procurement of Rabi-2023 onion has been increased to 3.00 lakh metric tonnes for the current year (FY 2023-24),” he said. Rabi onion harvesting during April-June accounts for 65 per cent of India’s onion production. and meets the consumer demand till the harvesting of Kharif crop in October-November. The procured stock is usually released through targeted sales in the open market and also to States and Union Territories and government agencies for supply through retail outlets during the season of low supply. Government data shows that the average retail onion prices in India in 2020, 2021 and 2022 were Rs 35.88, Rs 32.52 and Rs 28.00 per kg.