Search
+

    Cabinet approves import of 1.2 lakh tonnes onion: Finance Minister Nirmala Sitharaman

    Synopsis

    The move comes after the government's various efforts to boost the domestic availability failed to cool down the retail prices significantly. Retail prices of onions are continuing to rule above Rs 60/kg in Delhi. Onion prices have come under pressure due to 26 per cent fall in the production to 52.06 lakh tonnes during the kharif output late-kharif seasons of 2019-20.

    Agencies
    Onion prices have come under pressure due to 26 per cent fall in the production to 52.06 lakh tonnes during the kharif output late-kharif seasons of 2019-20.
    New Delhi: The Cabinet on Wednesday gave its approval to the Food Ministry's recent decision to import 1.2 lakh tonnes of onions in a bid to improve the domestic availability of the key kitchen staple and check prices.

    Finance Minister Nirmala Sitharaman informed about the decision at a media briefing after the Cabinet meeting.

    On November 16, Food and Consumer Affairs Minister Ram Vilas Paswan had announced that the government will import 1,00,000 tonnes of onions through state-run MMTC, which has already floated a tender for buying 4,000 tonnes of the commodity from the global market.

    The government is also facilitating private imports and also relaxed phytosanitary and fumigation norms till December.

    The move comes after the government's various efforts to boost the domestic availability failed to cool down the retail prices significantly. Retail prices of onions are continuing to rule above Rs 60/kg in the national capital and other consuming centres.

    Onion prices have come under pressure due to 26 per cent fall in the production to 52.06 lakh tonnes during the kharif output late-kharif seasons of 2019-20.

    The all-India average retail price of onion stood at Rs 60.38 per kg on November 15, compared with Rs 22.84 per kg on the same date last year.

    Besides easing norms for onion import, the government has taken several measures including ban on exports, stock limits on traders and sale of the commodity stored as buffer, at a subsidised rate.
    (Catch all the Business News, Breaking News Events and Latest News Updates on The Economic Times.)

    Also Read

    3 Comments on this Story

    Vinod Jain303 days ago
    As usual too late. By the time imported onions arrive, Indian crops will be normalised. No one will buy imported onions. Government refuses to learn from past. Bangladesh PM has given a right solution which I also follow- don’t eat onions if the rate is more than 0. 5 usd per kg in retail markets in MUMBAI.
    Mandar Guhagarkar304 days ago
    BJP government has also failed in controlling the essential commodities prices. It is foolish to import commodity to control domestically grown commodities. Agriculture industry is inflating prices more than 600%. Moreover they take huge huge subsidy from central government as well.
    Raghunandan Raghavachari304 days ago
    The fall in production of onions - crop loss symptoms of excessive rains due to climatic changes arising to global warming. There is nothing to rejoice about good rains when southeast monsoon unnaturally extended to end of October. A serious warning to do something about it humanly possible as the likelihood of increased occurrence in near future. Repeated crop losses in the offing.Perhaps the most worrisome agenda in the human psyche.
    The Economic Times