Govt to release buffer stock in wholesale markets to control onion prices

The Indian government is taking measures to stabilize onion prices by supplying onions from its buffer stocks to wholesale markets in Delhi and other major cities. The Ministry of Consumer Affairs has procured 4.70 LMT of onions for the Price Stabilization Fund (PSF) buffer, with a target of 5 LMT. The government has also started selling onions at a lower price of ₹35 per Kg in retail markets to alleviate consumer burden. Consumer Affairs Secretary Nidhi Khare expressed optimism about the upcoming kharif onion crop, citing increased acreage compared to the previous year. She also mentioned that pulses prices are expected to remain stable due to promising domestic production and increased imports. In addition to addressing onion and pulses prices, the Ministry is working on guidelines to curb misleading advertisements by coaching institutes and surrogate advertising. The Ministry has also finalized a Safety Pledge for e-commerce companies to ensure consumer safety and align with international practices. The Ministry plans to monitor tomato prices and intervene if necessary. Khare emphasized that there are no production issues in the current market. Overall, the Indian government is actively working to stabilize essential commodity prices, curb misleading advertisements, and prioritize consumer safety in the e-commerce sector.

Source: thehindubusinessline.com
Published on 2024-09-23