Govt Reduces Onion Stock Limit With Immediate Effect Amid Soaring Prices

Revised stock limits now are 25 metric tonnes for wholesalers and 5 metric tonnes for retailers. Importers will be exempted from these stock limits for imported onions.

Prices of onions continue to soar in the national capital leaving the customers teary-eyed. (PTI)

New Delhi: Consumers Affairs Ministry has revised onions stock limit with immediate effect for both wholesalers and retailers, in a bid to prevent the hoarding of onions, amid the ongoing crisis in the supply of the edible bulb. Revised stock limits now are 25 metric tonnes for wholesalers and 5 metric tonnes for retailers. Importers will be exempted from these stock limits for imported onions. "Provided that an importer, being a wholesaler or retailer or dealer shall be exempted for the imported stock of onions," the statement said. The decision comes at a time when the residents remain beleaguered with the soaring prices of onions, which are selling at prices as high as Rs 100 per kilogram in many states. The prime reason responsible for the upshot in the prices has been the shortage in the supply of onions. The Central government is closely monitoring the prices of onions. Cabinet Secretary Rajiv Gauba had on Monday chaired a meeting with Chief Secretaries of 11 major onion producing states to review the issue of rising prices. The Centre is also importing 11,000 MT of onion from Turkey in addition to 6,090 MT from Egypt, in the backdrop of soaring onion prices in the Indian retail market. According to the Ministry of Consumer Affairs, the Metals and Minerals Trading Corporation of India has placed the order, which will begin arriving in India later this month, while from Egypt the consignment will start reaching from mid-December. (With inputs from ANI)