Onion Price Hike: Big news for farmers! Sluggish increase in government onion procurement rate; Now you will get ‘this’ price per quintal..

Onion Price Hike: The central government has hiked the price of onion procured for buffer stock through NAFED and NCCF to a whopping Rs 2125 per quintal. As the farmers turned their backs due to the boom in the open market, the government increased the price for the fifth time and canceled this major reduction, this decision will bring relief to the productive farmers.

A huge rate hike

The central government has taken an important step to control onion prices in the domestic market and prevent possible shortages in the future. The government has directly increased the price of onion by 13 percent for the buffer stock i.e. the national reserve stock. According to this decision, the basic purchase price of onion has been directly increased by Rs 250 per quintal, which has directly increased the price from Rs 1875 per quintal to Rs 2125 per quintal. This price increase by the central government will be very comforting for the farmers who are worried due to the fluctuations of the market and there is a fear of spoilage of onion in the face of rainy season. Onion Price Hike

New purchase rate

According to the new policy announced by the central government, now the farmers can get Rs 2125 per quintal for their quality onions. Such new revised rate will be available directly. This means that farmers are now getting Rs 21.25 per kg of onion Price will be given. This new procurement rate has been implemented immediately at all authorized procurement centers of NAFED and NCCF. This fixed rate of the government will be of great help in avoiding the financial loss of the farmers from the fluctuations of the open market. Onion Price Hike

What was the previous rate?

Before this new decision, onion was being procured from the central government at a rate of Rs 1875 per quintal (Rs 18.75 per kg) for buffer stock. However, there was a huge gap between the price of onion in the open market and the government procurement rate. Due to this, the farmers turned their backs to the government centres. Keeping this in mind, the government has directly increased the previous rate by 13 percent i.e. Rs 250. This direct increase compared to earlier is considered very important to meet the production cost of the farmers and give them the rightful profit. Onion Price Hike

Impact on farmers and markets

This decision of the government will have a direct and positive impact on the farmers and the onion market as a whole (APMC). As the central government hiked the procurement rates, it will now create a kind of psychological pressure on the open market traders and large buyers. With the government rate at Rs 2125, private traders will no longer be able to buy onions from farmers at a lower rate. As a result, it will help onion prices to remain buoyant and stable even in the open market. Onion Price Hike