India's marketing federation increases onion storage
Under the Price Stability Fund (PSF), which aims to control the supply of onions, to prevent price i…Under the Price Stability Fund (PSF), which aims to control the supply of onions, to prevent price increases, the National Agricultural Co-operative Marketing Federation of India Ltd (NAFED) has increased its onion storage capacity. Previously, they could store 2,500 metric tonnes of the commodity, now this has increased to 4,000 metric tonnes which allows for a larger buffer stock.
The NAFED has two warehouses in the Nashik district for storing onions, which are located at Pimpalgaon and Lasalgaon. Speaking to Times of India, a senior official from NAFED said, "Last year, the central government asked us to procure 10,000 tonnes of onions from the wholesale market as part of its measures to tackle the onion scarcity situation. But, we reduced the procurement target to 2,500 metric tonnes due to a lack of storage facilities.''
He added, "This year, we are planning to create a buffer stock of 10,000 metric tonnes of summer onions during April and May. We are planning to lease storage facilities in the district to store an additional 6,000 metric tonnes of onions."