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The government has raised the buffer stock target to 7 lakh tonnes for the 2023-24 fiscal, against the actual stock of 3 lakh tonnes last year. According to the Secretary, the government had procured 5 lakh tonnes from last year's rabi season and is purchasing 2 lakh tonnes of kharif onion as the buffer stock target has been raised.
India News: The Centre has procured 25,000 tonnes of onion from the 2023 kharif season for its buffer stock. The government aims to maintain a buffer stock of 7 l
On December 8, the Centre banned onion exports till March 31 next year to increase domestic availability and keep prices under check. This has led to protests by onion farmers in Maharashtra's Nashik district.
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Buffer stock is maintained to meet any exigencies and for price stabilisation, if rates go up significantly during the lean supply season.