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Centre commenced release of stocks from onion buffer of three lakh metric tonnes

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Centre has commenced the release of stocks from the onion buffer of three lakh metric tonnes created this year. Secretary, of the Department of Consumer Affairs Rohit Kumar Singh held a meeting with the Managing Directors of the National Agricultural Cooperative Marketing Federation of India, NAFED, and the National Cooperative Consumers’ Federation of India Limited.

He said the onion will be released in those states and regions where retail prices are ruling above the all-India average. He said, disposal through e-auction and retail sales on e-commerce platforms are also being explored. Apart from market disposal, it was also decided to offer to the States at discounted rates for sale through retail outlets of their consumer cooperatives and corporations.

Consumer Affairs Ministry said the Government has been maintaining an onion buffer under the Price Stabilisation Fund to check the volatility in the prices of onion.

The annual buffers have been built by procuring onions from the rabi harvest for release in major consumption centers during the lean season. It said the onion buffer has played a key role in ensuring the availability of onion to consumers at affordable prices and in maintaining price stability.

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