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Govt to limit stockholding of onions, potatoes to check hoarding

"We think there are enough potatoes and onions in the country and there's no need to panic," said Ravi Shankar Prasad, the minister for telecommunications and information technology.

Ratnajyoti Dutta | July 2, 2014 | Updated 20:24 IST
Govt to limit stockholding of onions, potatoes to check hoarding

The government will place a limit on the quantity of onions and potatoes wholesalers can stock with them to curb hoarding, which is blamed for the recent spike in prices, a minister said on Wednesday, adding that states will soon decide on the cap.

"We think there are enough potatoes and onions in the country and there's no need to panic," said Ravi Shankar Prasad, the minister for telecommunications and information technology.

Earlier on Wednesday, the government raised the minimum export price for onion by 67 per cent to augment domestic supply and keep prices under control.

Wholesale price inflation hit a five-month high of 6.01 per cent in May. Food price inflation is near double-digits, with a late monsoon pushing up the cost of vegetables and dairy products.
 
(Reuters)


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