DoCA monitoring price and availability of onion

Speed Post News Network

New Delhi : Department of Consumer Affairs (DoCA) is regularly monitoring the price and availability of essential food items including onion. It has noted that the third advance estimate of production of onion for 2016-17 is higher at 217.2 LMT compared to the earlier production estimate of 215.6 LMT.

Therefore, there appears to be no reason for price for onion to increase. However, prices of onion have recorded increase over the last month. To discourage speculative and unscrupulous trade activities, Department of Consumer Affairs has enabled states to impose stock limit on onion, according to a PIB release. In addition, the DoCA in coordination with Department of Commerce recently held meeting with traders/importers, where the current onion price and availability situation was reviewed. It transpired that import of around 2,400 MT of onion has arrived while another 9,000 MT is expected shortly.

The DoCA will regularly review the price situation with stakeholders and facilitate imports by private traders to help moderate speculation in the market if prices go up unreasonably, according to the PIB release.