Centre to release 10,000 tonnes of pulses from buffer stock to check price rise
To control the spike in prices of pulses, the Centre has decided to release 10,000 tonnes of the staple, mainly tur and urad, from the buffer stock to ensure its availability at reasonable prices.
The decision comes days after the Wholesale Prices Index reported close to 35 per cent rise in the prices of pulses.
The Centre is also initiating procurement of rabi pulses with the target to procure around one lakh tonnes of chana and masur to build the buffer stocks further, a Food Ministry release said on Thursday.
In addition, to moderate price volatility in the forward market and discourage speculation, market regulator Securities and Exchange Board of India has decided to implement various regulatory measures on chana contracts, which include increase in the margin requirement.
State governments have also been requested to avail the benefit of buffer stocks to manage prices as also send in their requirements immediately to ensure timely allocation of stock, the Ministry said, adding that States had already been empowered to impose stock limits on the pulses to ensure easy availability.
During the kharif marketing season in 2015-16, government agencies procured about 50,000 tonnes of pulses from farmers and contracted 25,000 tonnes for import, the release said. Private traders imported a total of 55 lakh tonnes in 2015-16, according to official figures.