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Govt cuts onion stockholding by 50% to check hoarding

Govt cuts onion stockholding by 50% to check hoarding

New Delhi, Dec 3 (SocialNews.XYZ) To check onion hoarding, the central government here on Tuesday decided to reduce by 50 per cent the stock limit for the wholesale and retail traders to 25 tonnes and 5 tonnes, respectively.

According to the Union Ministry of Consumer Affairs, Food and Public Distribution order, onion wholesalers would no longer be able to stock more than 25 tonnes of onions and retail traders 5 tonnes.

The order has come into force with immediate effect. But the new rule will not apply to importers, it was decided at a meeting, chaired by Secretary in the Union Ministry of Consumer Affairs Avinash Kumar Srivastava.

 

To check the skyrocketing prices of onion, on September 30 the central government had fixed onion stock limit for the wholesale and retail traders at 50 tonnes and 10 tonnes, respectively.

While the wholesale price has crossed Rs 80 per kg in Delhi's Azadpur mandi, at retail outlets it was being sold at Rs 80-130 a kg in Delhi-NCR markets.

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

Source: IANS

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Govt cuts onion stockholding by 50% to check hoarding

About Gopi Adusumilli

Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc. He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources. When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any. He can be reached at gopi@socialnews.xyz

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