Govt cuts onion stockholding by 50% to check hoarding
Tuesday - December 3, 2019 11:02 pm , Category : BUSINESS
New Delhi, Dec 3 (IANS) To check onion hoarding, the central government here on Tuesday decided to reduce by 50 per cent the stock limit for the wholesale and retail traders to 25 tonnes and 5 tonnes, respectively.According to the Union Ministry of Consumer Affairs, Food and Public Distribution order, onion wholesalers would no longer be able to stock more than 25 tonnes of onions and retail traders 5 tonnes. The order has come into force with immediate effect. But the new rule will not apply to importers, it was decided at a meeting, chaired by Secretary in the Union Ministry of Consumer Affairs Avinash Kumar Srivastava.To check the skyrocketing prices of onion, on September 30 the central government had fixed onion stock limit for the wholesale and retail traders at 50 tonnes and 10 tonnes, respectively.While the wholesale price has crossed Rs 80 per kg in Delhi's Azadpur mandi, at retail outlets it was being sold at Rs 80-130 a kg in Delhi-NCR markets.The state Chief Secretaries have been asked to monitor the demand-supply situation of onions at the district level and to take strict action against the onion hoarders.