Government to begin procurement of 5 lakh tonnes of rabi onion in 2-3 days to protect farmers' interest in India

Fresh Onion

Published Mar 27, 2024

Tridge summary

The Indian government has announced its intention to purchase 5 lakh tonnes of rabi onions in the coming 2-3 days to create a buffer stock and safeguard farmers' interests, following the extension of an export ban on onions. This decision aims to ensure that farmers are compensated at least the cost of production, with current procurement prices in Maharashtra at Rs 13-15/kg. The move is in response to concerns over dropping mandi prices and an anticipated 20% decrease in rabi onion production for the 2023-24 season. Additionally, the government has permitted limited onion exports to neighboring countries and is considering strategies to extend onion shelf life and promote the cultivation of the early kharif crop.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Amid concern over likely fall in mandi prices in view of extension of onion export ban, the government on Tuesday assured farmers that it will start procurement of 5 lakh tonnes of rabi onion in next 2-3 days to protect their interest. Last week, the commerce ministry extended the ban on onion export till further orders. The ban on onion shipment was valid till March 31. We want to assure farmers that their concern will be taken care of. ...We will begin procurement of 5 lakh tonne of rabi (winter) crop in the next 2-3 days for maintaining a buffer stock, Consumer Affairs Secretary Rohit Kumar Singh told reporters. The onion export ban is affecting traders and not farmers as average mandi (wholesale) prices are ruling currently at around Rs 13-15/kg in Maharasthra, which is almost double from the previous year level, he said. Even if prices crash, we will protect the interest of farmers, he added. The secretary said the government normally buys onion for the buffer stock at a ...

Source: Economic times