Govt reduces onion stock limit amid rising prices

New Delhi [India], Dec 3 (ANI): In a bid to curb hoarding of onions in the wake of soaring prices, the Ministry of Consumer Affairs has revised with immediate effect the stock limits for wholesalers and retailers in the country.

According to an official statement issued on Tuesday, the stock limit for wholesalers has been set at 25 metric tonnes (MT) while the same has been set at 5 metric tonnes for retailers.

"Provided that an importer, being a wholesaler or retailer or dealer shall be exempted for the imported stock of onions," the statement said.

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. (ANI)