Govt imposes stock limits on onion traders till 31st Dec to check prices

Onion Prices

The Centre imposed stock holding limit on retail and wholesale traders to contain onion prices till December 31 to improve the domestic availability of the commodity and to provide relief to consumers.

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Consumer Affairs Secretary, Leena Nandan said retailers can now only stock onion only upto 2 tonne, whereas wholesale traders are allowed to keep up to 25 tonne.

She stated that the government had to invoke the Essential Commodities (Amendment) law which was passed last month in Parliament that allows it to regulate perishable commodities in the extraordinary price rise situation.

Centre bans onion export, imposes stock holding limit to check price rise |  Business Standard News

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Consumer Affairs Minister Piyush Goyal tweeted, “To control rising onion prices and curb hoarding, PM @NarendraModi government has taken the third step. Imposed stock limit of 2 tonne on retailers and 25 tonne on wholesalers”.

Onion prices have shot up sharply to over Rs75 per kg in the last few weeks in the wake of damage to standing Kharif crop in producing areas due to heavy rainfall.

-PTC News