Business

All-India retail price of tomato registers 29 % decline over last month

The all-India retail price of tomato has registered a 29 per cent decline over last month as market arrivals improved with the onset of monsoon rains. The retail price of onion is also largely under control at nine per cent below last year level. Consumer Affairs Ministry said, the intervention of central government has helped to cool off prices of onion and tomato.

The Ministry said, the government has built up a reserve stock of two lakh 50 thousand tons of onion in current year which is the highest ever onion buffer stock procured. The procurement for the buffer has helped in preventing mandi price of onion from crashing this year despite a record production of over 317 lakh tons. The onion stocks from the buffer will be released in a calibrated and targeted manner during August to December to moderate price rise. The stocks will be released through targeted open market sales and also offered to states and Union Territories and government agencies for supplies through retail outlets.

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