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Onion Price Surge: Government Takes Measures to Stabilize Prices and Provide Relief
In response to the recent surge in onion prices, the government took swift action by imposing a 40% export duty a few days ago, aimed at curbing exports and alleviating the burden on citizens. However, this decision faced backlash from onion producers and traders, leading to protests and strikes. The government’s move was primarily intended to control the export of onions, following a similar step taken after a record surge in tomato prices.
Government Procures Two Million Metric Tons of Onions
Following the protests by farmers, the central government has announced its decision to purchase two million metric tons of onions at a rate of ₹2410 per quintal. This decision was shared by Devendra Fadnavis, the Deputy Chief Minister of Maharashtra, and Piyush Goyal, the Central Minister. They revealed that the government is committed to buying the specified quantity of onions from farmers at the stated price. This move has instilled hope among onion producers for relief from the crisis.
Establishment of Special Procurement Centers in Nasik and Ahmednagar for Onion Purchase
To further address the onion crisis, the government has also decided to establish special procurement centers in Nasik and Ahmednagar. This decision is anticipated to bring an end to the strikes in Maharashtra’s onion markets. The markets are expected to resume operations starting tomorrow, Thursday morning. Following assurances from Bharti Pawar, the Minister of State for Agriculture, farmers and traders have decided to withdraw the strike.
Prior Measures and the Way Forward
Earlier, the Ministry of Finance had imposed a 40% export duty on onions on August 19, amidst concerns of price escalation and to boost domestic availability. These recent steps taken by the government indicate a concerted effort to stabilize onion prices, ensuring a balance between domestic consumption and exports. The focus remains on providing relief to both consumers and producers, safeguarding the interests of all stakeholders in the onion industry
