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India Business News: Government directs NCCF and NAFED to procure 5 lakh tons of Rabi-2024 onions. Payments ensured through Direct Benefit Transfer. Onions crucial for ann
The Centre has announced plans to purchase two lakh metric tonnes of onions in Maharashtra to provide relief to producers. The government will buy the onions at a rate of Rs 2,410 per quintal and set up special procurement centres in Nashik and Ahmednagar. This decision comes after protests by farmers and traders against the export duty imposed on onions to control prices and increase supplies in the domestic market.
Centre to procure 5 lakh tonnes of onion at ₹2,410/qtl, sell at a subsidised rate of ₹25/kg to protect farmers' interests amid export curbs.