After seizing 74,846.359 tons of hoarded pulses across the states, the Narendra Modi government has asked the state governments to have meetings with millers, wholesalers and retailers to make pulses available in retail markets at affordable rates.
In a communication to the states /union territories, the Indian government said that distribution of Tur, Urad, Chana and other dals at reasonable prices thorough PDS by some states has helped stabilize the prices. Other states are also expected to consider this step to control the prices.
“Pulses prices will come down only if there is smooth availability of imported dals, Mumbai-based Indian Pulses and Grains Association Chairman Praveen Dongre said last week after a meeting with Finance Minister Arun Jaitley. He urged the government to exempt importers of pulses from the stock holding limit.
With large quantities of pulses scheduled to arrive at Indian ports, the Indian Pulses and Grain Association (IPGA), the apex trade body for the import and export of pulses, expects that the price of pulses would reduce by 10-15 percent in a fortnight.
Gujarat has already exempted importers from a stock limit. Other states are also expected to follow suit after reviewing the price situation.
The material has been provided by InstaForex Company – www.instaforex.com