India: Nafed will likely begin onion purchases in May

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The central government agency National Agricultural Co-operative Marketing Federation of India (Nafed) will expected to begin the onion procurement process on May 15 in hopes of creating buffer stocks. In the past, the organization launched the onion procurement at the end of April.

The wholesale price of summer onions has dropped by 700 Rs per 100kg this year, due to an increase in the supply. Nafed officials stated that they’d get 80percent of the 150,000 tons of summer onions in the Nashik district. The remaining of the onions would come from Ahmednagar and the other areas of Maharashtra.

The federal government has established the goal of establishing the buffer stock consisting of 250,000 tonnes of onions, through its two central agency.

Source: timesofindia.indiatimes.com

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