Onion Prices Stabilizing as Rabi Onion Supply Increases
The Ministry of Consumer Affairs, Food and Public Distribution has announced that onion prices are stabilizing due to the increasing supply of rabi onions. The total production of rabi-2024 is expected to be 191 lakh tonnes, sufficient to meet domestic consumption.
Fri, 05 Jul 2024
The Ministry of Consumer Affairs, Food and Public Distribution has announced that the onion prices are stabilizing in the domestic market. This comes as a result of the increasing quantity of rabi onions released by farmers into the market.
According to official estimates, the total production of rabi-2024 is expected to be 191 lakh tonnes, which is sufficient to meet domestic consumption.
The government says that #onion prices are stabilizing as the quantity of rabi onion released in the market by farmers is increasing.
— All India Radio News (@airnewsalerts) July 5, 2024
The Ministry of Consumer Affairs, Food and Public Distribution says that the availability of onion in the domestic market is comfortable despite… pic.twitter.com/0HOxOdW5CL
The ministry has stated that despite a marginally lower production this season compared to last year, the availability of onion in the domestic market remains comfortable.
As the situation continues to unfold, it remains to be seen how the stabilizing prices of onions will impact the overall economy and consumer spending habits. However, for now, the news is a welcome relief for those who had been struggling with higher prices.
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