India’s pulse rates rise again, government releases new stocks to bring prices down

Prices of pulses in India have been rising again due to falling production because of to straight years of drought and the government said it would release 10,400 tonnes of tur and urad from its buffer stock for subsidised retail sales.

The prices are inching towards 200 rupees/kg in the retail market and the government said the fresh stocks it was releasing would be available at 120 rupess/kg in key southern states and the national capital New Delhi.

Battling shortages of pulses, a key food in India, the government has built up buffer stocks of 50,000 tonnes by through domestic buying, and it is in the process of procuring another 100,000 tonnes from the current crop.

The government has also contracted to import another 26,000 tonnes tur and urad in the current fiscal, of which 10,000 tonnes had already landed.

According to estimates provided by the Agriculture Ministry’s, pulses production is estimated at 17.33 million tonnes in 2015-16 crop year (July-June), marginally higher than the previous year’s production of 17.15 million tonnes.

 

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