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Onions that are purchased for reserve stock are from the spring season that has just ended. (representative picture)
Reserve stock is held under the Price Stabilization Fund (PSF) to meet any requirements, should rates rise significantly during the poor supply season
Consumer Affairs Minister Rohit Kumar Singh said on Sunday that the government had bought 20 percent more onions at a rate of 3,000 tonnes as stockpiles this year, while also experimenting with irradiation of onions with the Bhabha Atomic Research Center to increase their shelf life. In the 2022-23 fiscal year, the government held 2.51 thousand tons of onions as reserve stocks.
Reserve stock is held under the Price Stabilization Fund (PSF) to meet any requirements, should rates rise significantly during the poor supply season. To counter any eventuality in the festival season, this year the government has developed a 3,000-tonne strong barrier. There is no problem with onions,” Singh told PTI.
Onions that are purchased for reserve stock are from the spring season that has just ended. At present, autumn onions are being sown, and their arrival begins in October. The minister said, “Normally onion prices in the retail markets are under pressure for 20 days or so until the fresh Kharif crop hits the market. But this time, there will be no problem.” Meanwhile, the Ministry of Consumer Affairs is also trying to use technology to stockpile onions with the Department of Atomic Energy and the Bhabha Atomic Research Centre.
“On a trial basis, we are experimenting with irradiating onions of 150 tons with gamma radiation of cobalt 60 at Lasalgaon in Maharashtra. This will increase the shelf life of onions,” Singh said. In 2022-23, the government bought a record 2.51 thousand metric tons of onions. from the 2022 spring crop under the PSF fund and issued in major consumption centers during September 2022 and January 2023.
Rabi onions harvested during April and June account for 65 percent of onion production in India and satisfy consumer demand until the Kharif crop is harvested in October and November. Buffer stocks purchased through targeted open market sales are usually released and also released to states, union territories, and government agencies for supplies through retail outlets during the lean supply season.
Government data showed that the average retail price in India for onions was set at Rs 26.79 per kg on July 15, while the maximum was Rs 65 per kg and the minimum was Rs 10 per kg.
(This story was not edited by the News18 staff and was published from a syndicated news agency feed – PTI)
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