Business & Economy

Govt. decides on further imports of pulses to strengthen buffer stock

NetIndian News Network

New Delhi, August 17, 2016

The Government has decided to import more pulses -- 20,000 MT Chana and 80,000 MT Masoor -- to strengthen the buffer stock, an official press release said here yesterday.
The Inter Ministerial Committee on prices of essential commodities headed by Union Consumer Affairs Secretary Hem Pande reviewed availability and prices of essential commodities, specially pulses, yesterday.
The meeting also reviewed the procurement and distribution of pulses from buffer stock.
The release said that it was observed that there were declining trends in the prices of pulses in recent weeks and these were expected to fall further in view of the good sowing of pulses. The Government agencies have procured about 1, 39,000 MT pulses from the domestic market and farmers and 56,000 MT pulses have been contracted for import. Thus 1, 95, 000 MT pulses are available with the buffer stock.
The Department of Consumer Affairs has requested State Governments to expedite lifting of pulses Tur and Urad from the buffer stock for distribution at not more than Rs. 120/kg. These pulses are provided to the States – Tur at the rate of Rs. 67/kg and Urad at the rate of Rs. 82/kg. Lifting of pulses by the States is picking up, the release said.
The meeting also discussed in detail alternate mechanism for the release of pulses at appropriate time for effective market intervention if sufficient quantity is not lifted by the States.
The meeting was attended by senior officials of the Ministries of Agriculture, Food, Commerce and Finance as well as from agencies such as MMTC and NAFED.