by admin | May 25, 2021 | Business, Commodities, Commodities News, Economy, Large Enterprise, Markets, News, Politics
Ram Vilas Paswan
New Delhi : Despite taking measures such as procurement from local markets, boosting imports and discouraging export of onions, the Central government on Wednesday expressed its helplessness in controlling the rising prices of the essential commodity.
Union Food Minister Ram Vilas Paswan said the onion yield this year was expected to be lower since the area under onion cultivation had come down to 1.90 lakh hectares in 2017-18 from 2.65 lakh hectares in 2016-17.
“We have taken several measures, like procurement by agencies from areas such as Nashik (Maharashtra) and Alwar (Rajasthan) where the cost is lower, as well as import of onions. But it (bringing down prices) is not in our hands,” Paswan told reporters here.
While the Ministry’s data showed average prices of onion and tomato in Delhi ranged between Rs 53 and Rs 63 per kg, these were being sold for up to Rs 80 in retail markets.
Once the supply from (late) kharif starts, prices may come down, he added.
Paswan held a meeting with officials from the Ministries of Agriculture and Food as well as the Delhi government on Wednesday on the rising prices of onions and tomatoes.
Prices are low at one corner of the country while they are high at the other, he said.
“We are trying to figure out how onion from areas where prices are lower can be transported to Delhi,” he said.
On October 31, Paswan had blamed hoarding for a surge in the prices of onions and tomatoes in retail markets, and promised that the situation will improve once the fresh supply began.
Paswan added the onion output was 189 lakh tonnes in 2014-15, 209 lakh tonnes in 2015-16 and 217 lakh tonnes in 2016-17.
“However, the Agriculture Ministry has not yet provided information about the output this year. It is likely to come in January,” he said.
The National Agricultural Cooperative Marketing Federation has been asked to procure onions from Nashik, Alwar where prices are lower, about Rs 28-32 per kg.
It has procured approximately 1,000 tonnes of onions so far, said Avinash Srivastava, Consumer Affairs Secretary.
The Ministry has also asked public sector body Metals and Minerals Trading Corporation of India to import 2,000 tonnes of onions. However, this can only be used after a month as imported onions come in cold storage and need to be brought to room temperature.
Paswan said an increase in the Minimum Export Price (MEP) had brought down onion exports.
“On November 23, 4,159 tonnes of onion was exported. However, the export reduced to just 137 tonnes on November 23, after the MEP was set at $835 per tonne,” he said.
—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.
