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New Delhi, Stepping up measures to provide relief to consumers from rising onion prices, the Centre on Saturday said Mother Dairy's Safal outlets will also sell buffer onion at a subsidised rate of Rs 25 per kg from weekend in Delhi-NCR, while Hyderabad Agricultural Cooperatives Association is doing so in Telangana and other southern states. Already, cooperative bodies NCCF and <keyword id="110765" type="General" weightage="80" keywordseo="nafed" source="Orion">Nafed</keyword> are retailing buffer onion at subsidised rate on behalf of the central government. While Nafed has so far set up 329 retail points consisting of mobile vans and station outlets in 55 cities across 21 states, NCCF has set up 457 retail points in 54 cities in 20 states, it said. Kendriya Bhandar too has started retail supply of onion through its outlets across Delhi-NCR from November 3. "Safal Mother Dairy will start from this weekend. The retail sale of onions to consumers in Telangana and other southern states is being taken up by Hyderabad Agricultural Cooperatives Association (HACA)," the consumer affairs ministry said in a statement. The ministry has initiated an aggressive retail sale of onion from the buffer in a bid to provide relief to consumers from the recent increase in onion prices due to delay in the arrival of kharif crop. The government has maintained a buffer stock of 5 lakh tonne of onion for the current year and plans to create a buffer of an additional 2 lakh tonne. Due to recent measures taken by the government, wholesale prices are showing a declining trend but it takes time to reflect in retail markets. Wholesale price of onion was Rs 4,800 per quintal on October 28 in Lasalgaon market in Maharashtra, as against Rs 3,650 per quintal on November 3, the statement said. There was a decline of 24 per cent in a week. "Retail prices are expected to show a similar decline from the coming week," the ministry noted. It may be recalled that when prices of tomato shot up from last week of June 2023 due to supply disruptions caused by monsoon rains and white fly infestation, the government had intervened by procuring tomatoes through NCCF and Nafed from producing states of Karnataka, Andhra Pradesh and Maharashtra and supplied at a highly subsidised rate to consumers in major consumption centres. Also, to ensure availability and affordability of dal to ordinary households, the government has launched Bharat Dal at a subsidized price of Rs 60 per kg. Bharat Dal is made available for retail sale to consumers and for supplies to Army, and welfare schemes through NAFED, NCCF, Kendriya Bhandar, Safal and state controlled cooperatives in Telangana and Maharashtra.

Mother Dairy's Safal outlets to sell buffer onion at ₹25/kg

<keyword id="20153544" type="General" weightage="20" keywordseo="wholesale" source="keywords">Wholesale</keyword> <keyword id="19895000" type="General" weightage="20" keywordseo="inflation" source="keywords">inflation</keyword> fell to a 3-month low of 2.04 per cent in <keyword id="20419704" type="General" weightage="20" keywordseo="July" source="keywords">July</keyword> on decline in <keyword id="19900607" type="General" weightage="20" keywordseo="prices" source="keywords">prices</keyword> of food items especially vegetables, government data released on Wednesday showed. The decline in wholesale price index (WPI) based inflation in July came after it rose for four months in a row till June, when it was 3.36 per cent. It was (-) 1.23 per cent in July last year. In April wholesale inflation stood at 1.19 per cent. As per the data, food inflation in July was 3.45 per cent, down from 10.87 per cent in June, mainly due to month-on-month decline in prices of vegetables, cereals, pulses and onion. Vegetables recorded a deflation of 8.93 per cent in July, against a 38.76 per cent inflation in the previous month. "Positive rate of inflation in July, 2024 is primarily due to increase in prices of food articles, manufacture of food products, mineral oils, crude petroleum &amp; natural gas, other manufacturing etc," the Commerce and Industry Ministry said in a statement. The annual rate of inflation of the manufactured Products group increased to 1.58 per cent in July 2024, from 1.43 per cent in June 2024. Inflation in fuel and power basket rose to 1.72 per cent in July, from 1.03 per cent in the previous month. ICRA Senior Economist Rahul Agrawal said the core (non-food manufacturing) WPI continued to inch up for the fifth consecutive month, touching a 17-month high of 1.2 per cent in July 2024, even as the index contracted on a sequential basis for the second consecutive month. "The near-term outlook for WPI inflation remains benign. As per the data released by the Department of Consumer Affairs, the prices of a majority of food items have dipped on a sequential basis in August 2024 so far, amid a pick-up in the monsoon and a healthy progression in kharif sowing. "This is likely to aid in containing the base effect-led uptick in the primary food articles inflation print in the ongoing month. Overall, ICRA expects the WPI inflation to remain unchanged at 2 per cent in August 2024," Agrawal said. The decline in July WPI was in line with the retail inflation data for the month. Retail inflation fell to a near 5-year low of 3.54 per cent in July, data released earlier this week showed. Sanjeev Agrawal, President, PHD Chamber of Commerce and Industry said : "Going ahead, we expect the continuous softening of WPI inflation to reduce the costs of production levels and boost consumption demand in the country." The Reserve Bank of India (RBI), which mainly takes into account retail inflation while framing the monetary policy, kept the benchmark interest rate or repo rate unchanged for the ninth consecutive time in its August monetary policy review at 6.5 per cent. The decline in July food inflation would provide a breather to the RBI which had earlier this month said that the interest rate setting monetary policy committee (MPC) cannot ignore persistent high food inflation. "The MPC (monetary policy committee) may look through high food inflation if it is transitory; but in an environment of persisting high food inflation, as we are experiencing now, the MPC cannot afford to do so," RBI Shaktikanta Das said in his policy review statement. "It (MPC) has to remain vigilant to prevent spillovers or second round effects from persistent food inflation and preserve the gains made so far," he had said. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-9-pro-fold-launched-in-india-at-172999-but-you-cant-get-your-hands-on-it-right-now/articleshow/112517193.cms">Google Pixel 9 Pro Fold launched in India at ₹1,72,999, but you can’t get your hands on it right now</a> <a href="https://www.businessinsider.in/tech/mobile/news/pixel-9-pixel-9-pro-and-pixel-9-pro-xl-launched-in-india-starting-at-79999/articleshow/112512198.cms">Pixel 9, Pixel 9 Pro and Pixel 9 Pro XL launched in India starting at ₹79,999</a> <a href="https://www.businessinsider.in/stock-market/news/ipo-scam-two-victims-from-hyderabad-lose-over-11crore-in-fake-ipo-scams/articleshow/112488051.cms">IPO scam – Two victims from Hyderabad lose over ₹11 crore in fake IPO scams</a>

Wholesale inflation falls to 3-month low of 2.04% in July as food prices ease

<ul><li>Mumbai’s residents are paying ₹140 per kilogram for good quality onions and many are also buying half rotten products at a lower price. </li><li>In Hyderabad, government owned farmer’s markets are selling limited quantity of onions at subsidized rate. </li><li>The high price of onion and garlic has affected the sale and prices of meat and meat products. </li></ul> When people in Maharashtra are not worrying about who is their chief minister, they are bothered with rising prices of onions. And there is a reason. The city of Mumbai is saddled with the costliest market price of this staple food—at ₹140 per kilogram (kg). This of course is for good quality onions. There is a large market for partly squashed and rotting onions as well, which is going at an exorbitant price of ₹80 a kilo. For good quality onions though, the <a href="https://economictimes.indiatimes.com/markets/commodities/news/wholesale-onion-prices-hit-rs-100/kg/articleshow/72269648.cms">wholesale price </a>itself hit a ₹100. All the other major cities too are buying onions at around ₹100 a kg as indicated in the table below. Traders, however, say that customers too have significantly reduced onion consumption. 
 
 
 
 
 <div type="image" title="onion rythu" msid="72276074" hostid="261"></div>











 In the city of Hyderabad however, government owned farmer’s markets called Rythu Bazaars are selling onions ₹30 below the market rate. “But for that we have to stand in line for hours together and show Aadhar cards. Even after that, only a limited quantity of onions is given like one or two kgs,” Jaya RaviShankar, a homemaker from the city, told Business Insider. The high price of onion and garlic, which is also above ₹120 a kilo, has affected the sale of meat and meat products. The retail prices of chicken came down by ₹10 as per data collected from Navi Mumbai market in Vashi. The price of onions went up considerably after erratic rains affected crops in major onion producing states like Karnataka, Telangana and Maharashtra. Rains have been affecting the supply and consumption of many fruits and vegetables but the rising cost of staples has been disrupting Indian home economics. Last month, tomato prices have peaked to around ₹70 per kilo. That had forced Delhi government to <a href="https://www.businessinsider.in/policy/news/indian-government-is-offering-puree-as-an-alternative-to-costly-tomatoes/articleshow/71534211.cms">peddle tomato puree </a>as an alternative—especially during the festive season. 
 
 
 <div type="image" title="Onion prices hit ₹150 in some parts of Mumbai (1)" msid="72276233" hostid="261"></div>







 Source: Retail markets from each city

Desperate Indians queue up for cheap onions or buy half rotten ones as prices soar

<ul><li>Out of the 11 measures announced on May 15, 8 related to strengthening infrastructure, logistics, storage capacity.</li><li>Three of them were related to governance and administrative reforms, the Minister said speaking in New Delhi. </li><li>Sitharaman promised that government will allocate money and to quickly ramp up existing policies in these spaces.</li></ul><keyword id="6355261" type="UNKNOWN" weightage="20" keywordseo="finance-minister">Finance Minister</keyword> Nirmala Sitharaman's third tranche of the ₹20 lakh crore ($270 billion) economic stimulus promised by Prime Minister Narendra Modi from the government in New Delhi was dedicated to farming and allied activities including fisheries and animal husbandry etc. The first tranche was a clearly quantifiable ₹5.9 lakh crore ($78 billion) push for micro, small and medium (MSME) businesses, non-banking financial companies, among others. The second one was dedicated largely to providing relief to migrant workers and small farmers. One nation, one ration card was one of the highlights of the announcement. ALSO READ: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/for-one-nation-one-ration-card-scheme-narendra-modi-and-nirmala-sitharaman-face-many-risks/slidelist/75752500.cms">For ‘One nation, one ration card’ to work, India has to fix a bunch of issues on war footing</a> Out of the 11 measures announced on May 15, 8 related to strengthening infrastructure, logistics, storage capacity and 3 were related to governance and administrative reforms. Sitharaman promised that government will allocate money and to quickly ramp up existing policies in these spaces. These are the top highlights of the Finance Minister's speech on May 15: 1. ₹1 lakh crore ($13 billion) allocated to strengthen <a href="https://www.businessinsider.in/business/startups/news/india-sets-up-fund-for-cold-storage-for-farm-products-startups-are-eligible/articleshow/75758088.cms" data-type="tilCustomLink" target="_blank">farm-gate infrastructure like cold chains, storage centres</a>etc. The fund created for cooperatives,farmers producer organisations, private entrepreneurs, startups etc. looking to enter this space. <div type="Article" hostid="261" msid="75758676" title="India proposes to deregulate prices of onions, potatoes, pulses and other essential food — prices won’t be capped and one can store as much as needed" mstype="2" mssubtype="0"></div> 2. For micro food enterprises, the government will provide a fund of ₹10,000 crore. The intention is to help local manufacturers and brands, in the health and wellness space, organic products, nutrition products etc. to go global. The fun will go into modernising, formalising, and bringing these firms up to global standards. This will be cluster-based approach. For instance, makhana makers in Bihar, saffron products makers in Kashmir, tapioca makers in Tamil Nadu, ragi makers in Karnataka etc. can benefit from this. 3. Pradhan Mantri Matsya Sampada Yojana (a scheme dedicated to marine fisheries and aquaculture):₹20,000 crore to boost fish production by 7 million tonnes in the next five years. 4. [An existing programme] ₹13,343 crore had been allocated for National Animal Disease Control Programme in January 2020 to ensure 100% vaccination of cattle, buffalo, sheep, goat and pig population (over 53 crore animals). 1.5 crore cows and buffaloes tagged and vaccinated till date. This will continue in green zones. 5. A new fund of ₹15,000 crore is being established to boost animal husbandry infrastructure development. Dairy producers and processors will be eligible for incentives being provided from this fund. Those who want to set up plants for export of niche dairy products will also be supported. 6. ₹4,000 crore for promotion of cultivation of medicinal plants. 1 million hectares to be covered under herbal cultivation in the next two years. This will lead to income generation of ₹5,000 crore for farmers. Development of a corridor of 800 hectare area along the banks of river Ganga. A network of regional markets (mandis) will be created for medicinal plants. 7. ₹500 crore for beekeeping initiatives. Government will implement a scheme for infrastructure development related to Integrated Beekeeping Development Centres, Collection, Marketing and Storage Centres. This will lead to an increase in yield and crop quality, resulting in increase in income for 2 lakh beekeepers. 8. ₹500 crore for subsidy to farmers of green produce (fruits and vegetables). 50% subsidy for transportation of green produce from surplus to deficient markets. 50% subsidy for storage of green produce. This pilot project will initially be for a period of 6 months - the government says it will be expanded and extended in the future. 9. <a href="https://www.businessinsider.in/politics/policy/news/what-is-essential-commodities-act-that-nirmala-sitharaman-wants-to-amend/articleshow/75759156.cms" data-type="tilCustomLink" target="_blank">Essential Commodities Act</a>will be amended to deregulate prices of cereals, edible oils, oilseeds, pulses, onions and potato etc. Stock limits to be imposed only under exceptional circumstances like national calamities, famine with a surge in prices. No such stock limit shall apply to processors or value chain participants, or to any exporter subject to export demand. 10. Farmers will be given the choice to sell their produce at attractive prices, instead of selling it to just <a href="https://www.businessinsider.in/politics/news/bjp-narendra-modi-nirmala-sitharaman-push-agriculture-apmc-reform/articleshow/75760189.cms" data-type="tilCustomLink" target="_blank">APMCs (Agricultural Produce Market Committee)</a>. Framework for e-trading of agricultural produce to be included in the central law proposed to be formulated. <div type="Article" hostid="261" msid="75760364" title="I have been asking for this for 20 years, says Ashok Gulati, agriculture scientist ⁠— cheering the changes to Essential Commodities Act and APMC" mstype="2" mssubtype="0"></div> 11. Agricultural Produce Price and Quality Assurance. Facilitative legal framework to be created to enable farmers for engaging with food processors, aggregators, large retailers, exporters etc. Risk mitigation for farmers, assured returns and quality standardisation shall form an integral part of the framework Taking stock of the measures taken during the lockdown. ₹74,300 crore worth agricultural produce was purchased at minimum support prices since the lockdown began on March 25. ₹18,700 crore cash has transferred from the Prime Minister's Kisan (farmer) Fund. ₹6,400 crore worth claims under PM Fasal Bimal Yojana (crop protection scheme). Milk cooperatives bought 560 litres of every day against the daily demand of 360 litres. Additional 111 crore litres of milk was purchased and dairy farmers were paid ₹4,100 crore. The excess milk will be converted to milk powder, a Finance Ministry official said. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/zomato-lays-off-13-of-its-workforce-announces-pay-cuts-for-all/articleshow/75756087.cms" data-type="tilCustomLink" target="_blank">Zomato lays off 13% of its workforce, announces pay cuts for all – CEO Deepinder Goyal says 40% of their restaurants could shut down in 12 months</a> <a href="https://www.businessinsider.in/business/startups/news/hyderabad-startup-vera-healthcare-has-built-a-testing-bus-for-covid-19-with-an-inhouse-quarantine-berth-and-will-cover-upto-10000-houses-in-a-day/articleshow/75755521.cms" data-type="tilCustomLink" target="_blank">This Hyderabad-based startup has built a testing bus for Covid-19 – with an inhouse quarantine berth and will cover upto 10,000 houses in a day</a> <a href="https://www.businessinsider.in/stock-market/news/biocon-share-price-falls-after-earnings-and-mutual-funds-stake-in-the-stock/articleshow/75754048.cms" data-type="tilCustomLink" target="_blank">Biocon was a hot stock before the latest earnings— from Tata Asset Management to Baroda AMC, at least five mutual fund houses added it to their portfolio</a>

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Mother Dairy's Safal outlets to sell buffer onion at ₹25/kg

PTI

Wholesale inflation falls to 3-month low of 2.04% in July as food prices ease

PTI

Desperate Indians queue up for cheap onions or buy half rotten ones as prices soar

Katya Naidu

These are the top takeaways from Finance Minister Nirmala Sitharaman's third installment from Modi's ₹20 lakh crore stimulus

BI India Bureau

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