India News | Govt Imposes Stock Limit on Onion Traders to Check Prices

New Delhi, Oct 23 (PTI) To contain onion prices, the Centre on Friday imposed stock holding limit on retail and wholesale traders till December 31 to improve the domestic availability of the commodity and provide relief to consumers.

Retailers can stock onion only up to 2 tonne, whereas wholesale traders are allowed to keep up to 25 tonne, Consumer Affairs Secretary Leena Nandan said in a press conference.

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She said the government had to invoke the Essential Commodities (Amendment) law -- which was passed last month in Parliament -- that allows it to regulate perishable commodities in the extraordinary price rise situation.

Later, Consumer Affairs Minister Piyush Goyal tweeted: "To control rising onion prices and curb hoarding, PM @NarendraModi government has taken the third step. Imposed stock limit of 2 tonne on retailers and 25 tonne on wholesalers".

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Onion prices have shot up sharply to over Rs 75 per kg in the last few weeks in the wake of damage to standing Kharif crop in producing areas due to heavy rainfall.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)