Govt extends stock holding limit on Onion traders indefinitely
Commodity Online | November 28 2019
UPDATED 14:56:15 IST

Retail Traders & Investors Squeezed to Buy High-Risk Assets Again

LME starts publishing off-warrant stocks data

Metals extend gains; oil prices trend higher despite increase in inventories

Metals rally as risk aversion takes hold; oil prices steady ahead of inventories report

Saudi Arabia Eyes Total Dominance In Oil And Gas

With onion prices continuing to rule high at Rs 80-90 per kg, the government on Wednesday extended prohibitions on traders from the stocking of edible bulb across the country for an indefinite period.

Besides stock holding limit, he said, the Centre has banned exports of onion and importing 1.2 lakh tonnes to control prices. Onion prices are ruling at Rs 70-80 per kg in retail markets across major cities.

"Stockholding limit on retailers and wholesalers are being further extended until further orders," an official statement said.

The stock holding limit was imposed in September. At present, retailers can stock onion only up to 100 quintals and wholesale traders are allowed to keep up to 500 quintals.

The decision was taken at an inter-ministerial meeting, chaired by Consumer Affairs Secretary A K Srivastava, to monitor the price and availability of onions across the country.

The consumer affairs secretary has written to chief secretaries of all states asking them to suitably reduce the stock limits further in their states as per the availability and prices. They have been asked to strictly enforce these stock limits and send an action taken report on a weekly basis.

 



×