Market regulation a must to check pulse price rise | india | Hindustan Times
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Market regulation a must to check pulse price rise

APPREHENSION OF low production of rabi pulses due to abrupt rise in temperature during mid-February and untimely rain in the pulse growing states as well as rumours of poor crops in major pulse exporting countries has led to escalation of pulse prices in the country during the past two months.

india Updated: May 25, 2006 00:21 IST

APPREHENSION OF low production  of rabi pulses due to abrupt rise  in temperature during mid-February and untimely rain in the pulse growing states as well as rumours  of poor crops in major pulse  exporting countries has led to escalation of pulse prices in the country during the past two months.

Director of the Indian Institute of Pulse Research (IIPR), Dr Masood Ali  told Hindustan Times that the pulse production was badly hit due to inclement weather conditions in  the pulse growing states like Madhya Pradesh, Rajasthan, Maharashtra and Gujarat  which led the traders to apprehend low production  of rabi crop this year. He said urad seemed to have been  worst  hit with the price soaring  up by fifty percent  in less than two months. Prices of other pulses including chick pea, field pea and lentils were also up by  about 15 to 20 per cent, he added.

Dr Masood said that the prices of  urad and chickpea were still going upwards inspite of the arrival of new harvest and  imports. He  said it appeared that  the pulses played  in the hands of  importers and traders who normally cornered the produce, dictated the price in the local market and jacked up the prices of the future contracts.”This is happening when the second advance  estimates  forecast  total pulse production  in the country at 14.4 million tonnes, a 7.6 percent  rise from last year” he added. He said that the recent surge in pulse  prices warranted a strong mechanism for regulating market forces so that unusual  rice rise could be monitored and appropriate market interventions were made by the government through reasonable buffer stocks and public distribution system.

At the same  time,  market intelligence  network  based on internal  as well as external database for providing  authentic  and reliable information on the arrival of fresh harvest and probable price  should be strengthened, Dr Masood said.