Government to sell entire onion buffer stock to cool prices
India
To help cool off rising onion prices, the government is putting its entire onion buffer stock up for retail sale.
This comes after a tricky season where only 1.2 lakh tons could be bought, way short of the 2 lakh ton goal, thanks to high prices and some hiccups in procurement and storage.
Onions 1L tons at subsidized rates
Retail sales are set to kick off by late August or early September, with about 1 lakh tons ready for distribution at subsidized rates, enough to last around four months if released at 800 tons a day.
Onion inflation jumped from 4.7% in June to 22.5% in July, though prices are holding steady at ₹50 per kilogram for now.
The onions will be sold under the Price Stabilisation Fund, aiming to give shoppers some much-needed relief.