Skyrocketing Onion prices leave consumers in despair; Government increases buffer stock sales for relief
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Vegetable markets across the nation have witnessed a sudden skyrocket jump in onion prices touching roughly Rs 60-70 per Kg. The price hike of Onion has started affecting the consumers and their budget. Consumers requested the government to intervene and cap the prices.
Meanwhile, the Government has taken measures to maintain sufficient availability of onion to consumers at affordable prices. In view of this, the Union Government on October 28 notified the Minimum Export Price (MEP) of USD 800 per Metric Ton (MT) on a FOB basis for the export of onions with effect from October 29 to December 31, 2023.
