by admin | May 25, 2021 | Commodities, Commodities News, Economy, Markets, News
New Delhi : With onion prices going up during the festival season, the government on Friday said fresh supplies from Karnataka will increase its availability in a week’s time bringing down the prices to “moderate” level.
A high-level committee headed by Consumer Affairs Secretary Avinash Srivastava on Friday reviewed the price and availability situation after retail prices of onion in Delhi went up to Rs 40 per kg.
It also decided that the supply of onion to the national capital from the government’s buffer stock under Price Stabilization Fund (PSF) should be increased by two-three times “so as to tide over any constraint in the interim supply”.
The Agriculture Ministry said the sown area under the kharif onion crop was higher than that last year and fresh arrivals had started from Karnataka.
It would improve the availability and keep the prices “moderate”, the committee said.
The average wholesale prices at Nashik’s Lasalgaon market– Asia’s largest wholesale market for onion — have doubled in a week’s time to over Rs 2,100 per quintal.
The government owned Mother Dairy has already reduced onion prices by Rs 2 per kg at all its stores across Delhi.
—IANS
by admin | May 25, 2021 | Commodities, Commodities News, Commodity Market, Economy, Investing, Markets, News, Politics
New Delhi : The union government has imposed stock limit on sugar mills to keep sugar prices under control during the festive season and also enabled states to impose control measures on traders of onion in view of “abnormal rise” in its prices in recent weeks despite better production than last year.
Food and Public Distribution Minister Ram Vilas Paswan said on Tuesday that stock limit had been imposed on sugar mills for the next two months.
Paswan said in tweets that there was “no shortage” of sugar for domestic consumption in the country.
“For keeping the prices of sugar under control during the festival months of September and October 2017, stock limits have been imposed on sugar mills,” he said.
“Stock limit for September 2017 is 21 per cent of total sugar available with sugar mills during 2016-17 sugar season. Stock limit for October 2017 is 8 per cent of total sugar available with sugar mills during 2016-17 sugar season,” he added.
India is the second largest producer of sugar in the world. The government had last month increased import duty on sugar to 50 per cent to control the dumping of sugar in the country when international prices go down.
Sugar prices in the country are currently above Rs 40 per kg in the retail market while branded sugar is priced over Rs 50 per kg.
In another decision, the government also enables states and union territories to impose control measures on traders and dealers of onion to ensure its adequate availability at reasonable prices.
The Ministry of Consumer Affairs, Food and Public Distribution on Tuesday said in a press release that the government had on August 25 notified its decision that states could now impose stock limits on onions and take measures for de-hoarding and action against speculators and profiteers.
“This has been necessitated due to the abnormal rise in prices of onions in recent weeks particularly from July-end of this year onwards, though the production and supply of onions in the market is better than last year during the same period,” the release said.
It said that as per all India average retail price, the prices have increased from Rs 15 per kg to Rs 28.94 per kg. In the metros, the rise has been even steeper — Rs 31 per kg in Chennai, Rs 38 per kg in Delhi, Rs 40 per kg in Kolkata and Rs 33 per kg in Mumbai.
“After examination of all the circumstances, the government has inferred that there are some reasons other than shortage of onions contributing to the abnormal price rise of onions like hoarding, speculation etc.,” the release said.
It said there was need to enable states to take action against those traders who were engaged in speculative trading, hoarding and profiteering in onions.
“The measure is expected to bring the prices of onions down to a reasonable level to give an immediate relief to the consumers,” it added.
—IANS
by admin | May 25, 2021 | Commodities, Commodities News
New Delhi, (IANS) Keen to prevent a repetition of last year’s sky-rocketing prices of onions and pulses, the union Food and Consumer Affairs Ministry is taking steps to prepare timely import plans and also set up buffer stocks of these items, official sources said here on Monday.
In a bid to control pulses prices, the central government has released substantial quantities of tur and urad from buffer stocks for retail sale at subsidised rate of Rs.120/kg in Delhi, Andhra Pradesh, Telangana and Tamil Nadu, a source told IANS here.
The ministry has been also taking steps to intervene in the market on time so that consumers are not affected by price rise.
The Centre has built a buffer of 50,000 tonnes by way of domestic procurement.
The government is also likely to procure one lakh tonnes of chana and masoor dal.
Besides these steps, the Centre has also empowered the states to impose stock limits on the pulses to ensure easy availability, the source added.
Pulses prices have seen increase because of a fall in domestic production, largely owing to drought and scanty rainfall.
Kendriya Bhandar and Mother Dairy’s retail chain Safal have been directed to sell tur and urad at subsidised rates via their retail outlets in the national capital.
Sources said the Centre has released 2,000 tonnes of tur or arhar dal to the Andhra Pradesh government while Telangana too has been given 2,000 tonnes of tur dal from the buffer stock.
In case of Tamil Nadu, the state government has been sanctioned 5,000 tonnes of urad dal against the demand of 10,000 tonnes.
Sources said the Centre has contracted to import 26,000 tonnes of tur and urad so far this fiscal.
The government has also started imports through state-run public sector undertaking Metals and Minerals Trading Corporation on time to augment domestic supplies so that the prices do not escalate, the source said.
Sources said the Centre has procured 2,300 tonnes of onions directly from farmers this year so far to build buffer stocks.
The buffer stock of onions is being created using the Rs.900-crore Price Stabilisation Fund (PSF), sources said.
Meanwhile, union Minister of Consumer Affairs, Food and Public Distribution Ram Vilas Paswan will be travelling to various parts of the country, including Patna and Nagpur, in connection with the completion of two years of the BJP-led National Democratic Alliance (NDA) government and highlight his ministry’s “good work”.
Paswan is going to Patna on Tuesday, May 17, and among official engagements will inaugurate an exhibition highlighting the achievements of his ministry there, the source said.
He will also travel to Ranchi, Lucknow and northeastern state of Mizoram during the next fortnight.
The union food minister will address a conference of state food ministers in Delhi on May 21.