Central Government Engages Central Warehousing Corporation for Onion Storage in Nashik
Centre ropes in Central Warehousing Corp for storage of buffer stock of Nashik onions
Hindustan Times
Image: Hindustan Times
The Indian government has assigned the Central Warehousing Corporation (CWC) to manage the storage and dispatch of buffer stock onions sourced from farmers in Nashik, Maharashtra. This initiative aims to stabilize onion prices and ensure supply during potential shortages, with CWC set to hire 35 warehouses for this purpose.
- 01CWC will manage storage and dispatch of onions from Nashik for the first time.
- 02The government aims to stabilize onion prices through a buffer stock of two lakh tonnes.
- 03CWC will hire 35 warehouses equipped with proper storage facilities.
- 04The buffer stock creation involves collaboration with NAFED and NCCF.
- 05Warehouse hiring rates will be determined by the Department of Consumer Affairs.
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In a significant move, the Indian government has tasked the Central Warehousing Corporation (CWC) with the responsibility of storing and dispatching buffer stock onions purchased from farmers in Nashik, Maharashtra. This is the first time CWC, a Public Sector Undertaking (PSU) known for its expertise in storage, will handle this task. The Department of Consumer Affairs (DoCA) has directed CWC to identify suitable warehouses in Nashik, with plans to hire 35 warehouses equipped with modern facilities, including CCTVs, to ensure the security of the stock. The government plans to buy two lakh tonnes of onions from Nashik farmers through the National Agricultural Cooperative Marketing Federation (NAFED) and the National Cooperatives’ Consumer Federation of India (NCCF) to create a buffer stock aimed at stabilizing volatile prices and addressing potential shortages later in the year. CWC's regional manager, Ajay Zadoo, confirmed that the warehouses would be ready before the purchasing process begins early next month.
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This initiative is expected to stabilize onion prices, benefiting both farmers and consumers by ensuring a steady supply of onions throughout the year.
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