It is the first time the National Cooperative Consumers’ Federation of India Limited procured onions as a part of their price stabilisation fund (PSF) to help control the market prices of the vegetable. The NCCF, one of the central agencies involved in market price stabilisation of food items, will release their buffer stock of onions to the Azadpur mandi from Friday to disrupt the recent trend of increase in onion prices, people aware of the matter said. Yogendra Prasad Singh, Regional Director of NCCF, Delhi, said there is a chance onion prices may see a steep increase in the coming months and the NCCF was taking the step to meet the demand. “There has been some unseasonal rain in the states which primarily supply onions due to which a portion of the onions in cold storage have gotten damaged. There is a chance that onion prices increase steeply in the coming months which is why NCCF has decided to get involved,” said Singh.

Source: Hindustan Times August 18, 2023 12:14 UTC