Prices of pulses may drop further in 15 days
Around 25 lakh tonnes of pulses have been imported by private traders, thus increasing the stock and reducing the ratesmumbai Updated: Oct 21, 2015 23:12 IST
After the sharp rise over the past few days, there are indications that the prices of pulses may drop significantly in the next 15 days. Reason: around 25 lakh tonnes of pulses have been imported by private traders, thus increasing the stock and reducing the rates.
“Private importers have given contracts for 25 lakh tonnes of pulses, which will arrive between October 15 and January 31 next year. We expect the prices to come down considerably,” said Pravin Dongre, chairman, India Pulses and Grains Association (IPGA), adding around 2.5 lakh tonnes has arrived in the city in the past seven days.
Currently, tur dal is being sold at Rs200 a kg, from the Rs60 that it was being sold for a few days ago. Under attack from all quarters, the Centre and the state swung into action to increase the stock and control the prices. The central government invoked the Price Stablisation fund to control the spiraling prices. The state, meanwhile, promised to evoke harsher laws to dissuade hoarders.
The IPGA has asked the Centre to withdraw the stock limit exemption for imported pulses. “The stock limit will hamper the import, leading to a scarcity of pulses in the country. Cancellation of import orders will damage the reputation of Indian traders globally,” said Dongre.