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Centre curbs onion stock limit to curb prices

Date: 26 October 2020 Tags: Miscellaneous
  • With onion prices crossing Rs100 per kg in several cities, the Centre imposed stock limits on wholesalers and retailers until the end of the year to prevent hoarding.
  • This is the first time stock limits have been imposed on any commodity after the Essential Commodities Act was amended last month to reduce such interventions.
  • Under the curbs, wholesale traders will not be allowed to store more than 25 tonnes of onions, while retailers will be limited to two tonnes only, from October 23 till December 31.
  • Onion prices have been rising steadily since early September, and the Centre has already slapped an export ban on the vegetable, taken steps to facilitate imports from other countries, and released more than 40,000 tonnes from its buffer stock of one lakh tonnes into retail markets to cool down prices.