Onion Rate May Hit Rs 150 In Kolkata, Centre Cuts Stock Limit: 10 Points

Last month, the Union Cabinet had approvedimport of 1.2 lakh metric tonnes of onion in view of the high prices of the essential commodity in the market.

Onion Rate May Hit Rs 150 In Kolkata, Centre Cuts Stock Limit: 10 Points

The average selling price ruled at Rs 75 per kg on Tuesday.

New Delhi: Amid spiraling onion prices across the country, the central government on Tuesday reduced the stock limit for the wholesale and retail traders by 50 per cent. The wholesalers would no longer be able to stock more than 25 tonnes of onions. For retail retail traders, the limit is five tonnes. Onion prices remain high in the range of Rs 75-100 per kg across major cities of the country. In Kolkata, the prices could soon touch a new high of Rs 150 per kg. Opposition parties have been attacking the government over the issue amid protests in parliament.

Here is your ten-point cheat sheet on this big story:

  1. The central government's move to reduce the stock limit by 50 per cent aims to curb onion hoarding. The order has come into force with immediate effect. But the new rule will not apply to importers, according to the Union Ministry of Consumer Affairs, Food and Public Distribution order.

  2. In Kolkata, onion is being sold at Rs 110-130 per kg, which is expected to rise to Rs 150 a kg if wholesale prices are any indication, according to the city-based traders, news agency PTI reported.

  3. On Tuesday, Congress's Adhir Ranjan Choudhary attacked Prime Minister Narendra Modi over the issue. "Na khaaonga na khane doonga (Won't indulge in corruption, won't allow others to do that)", but middlemen are indulging in corruption," he said, referring to PM Modi's election slogan.

  4. Unique protests have been witnessed in parliament as onion prices skyrocket. AAP MP Sanjay Singh was seen wearing a garland of onions on Tuesday as he raised slogans against the central government outside parliament, accusing the BJP of being involved in a "big onion scam."

  5. Last month, the Union Cabinet had approved import of 1.2 lakh metric tonnes of onion in view of the high prices of the essential commodity in the market. "The Cabinet has given its approval to the import of 1.2 lakh metric tonnes of onion," Finance Minister Nirmala Sitharaman had told reporters after the meeting of the Union Cabinet on November 20.

  6. The average selling price ruled at Rs 75 per kg on Tuesday, while the maximum rate of Rs 140 per kg was recorded in Port Blair, according to the data compiled by the Consumer Affairs Ministry.

  7. State-owned trading firm, MMTC, which is importing onions on behalf of the centre, has placed an order of 11,000 tonnes of edible bulb from Turkey. This is the second import order placed by the firm. The public sector firm is already importing 6,090 tonnes from Egypt.

  8. Responding to a query on onion prices in parliament on Tuesday, Minister of State for Consumer Affairs Danve Raosaheb Dadarao said there is no proposal to provide onions at an uniform rate across the country.

  9. Several thefts have been reported as prices continue to rise. Last month, a trader in Maharashtra's Nashik complained to Madhya Pradesh Police that his onion consignment worth up to Rs 22 lakh was stolen.

  10. The state Chief Secretaries have been asked by the centre to monitor the demand-supply situation of onions at the district level and to take strict action against the onion hoarders.

(With inputs from PTI)



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