Govt extends stock limit on onion till Dec 2017

To curb rise in onion prices, Food and Consumer Affairs Minister Ram Vilas Paswan today said the government has extended by three months till December the ban on holding of stock beyond a prescribed limit.

The validity of the order that empowers states to impose stock limits on traders for holding onion and ban hoarding beyond the fixed threshold expires on October 31.

Retail onion prices are ruling at around Rs 50 per kg in the national capital. In other metro cities, rates are ruling in the range of Rs 30-40 per kg, as per the official data.

"To check the hoarding of onion, the date of stock limit of onion has been extended from October 31, 2017 till December 31, 2017," Paswan tweeted.

States have been requested to ensure the availability of onion for consumers at a reasonable price during the festive season, he said.

The stock limit has been extended as onion prices in both wholesale and retail markets have risen sharply in view of tight supply situation.

The agriculture ministry has projected 5.8 per cent fall in onion output at 197.13 lakh tonnes in 2016-17 crop year (July-June), as against actual output of 209.31 lakh tonnes last year.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)