Govt panel to check pulse’s hoarding

The government wanted traders to earn reasonable profits but “but if you try to game it, then we are there to control. That is what we get paid for. That’s my friendly warning,” consumer affairs secretary Rohit Kumar Singh had said, HT reported on February 18.

The Centre has formed a committee to track stocks of tur or pigeon pea, a widely consumed pulses variety, held by importers, millers and traders after market intelligence inputs of a hoarding nexus to ratchet up prices in coming months, an official statement said.

To ease supplies, the Centre has waived off 10% duty on import of the lentil variety from non-least developed countries (LDCs), as the duty creates “procedural hurdles even for zero duty imports from the LDCs”. (AP)

The panel, led by Nidhi Khare, additional secretary in the consumer affairs ministry, will also monitor stocks of other pulses varieties to take “necessary pre-emptive measures in the event of unwarranted price rise in the coming months”, amid reports that despite sufficient imports, supplies were thin in markets. Consumer pulses inflation was 4.09% in February against 4.27% in the preceding month.

The government wanted traders to earn reasonable profits but “but if you try to game it, then we are there to control. That is what we get paid for. That’s my friendly warning,” consumer affairs secretary Rohit Kumar Singh had said, HT reported on February 18.

“The decision comes against the backdrop of reports of market players not releasing stocks despite regular arrival of imports in good quantities,” the consumer affairs ministry said on Monday. The government will “deal” with unscrupulous speculators, it added.

On August 22 last year, the Union government had asked states to require stockists to disclose tur quantities held by them mandatorily under the Essential Commodities Act, 1955.

To ease supplies, the Centre has waived off 10% duty on import of the lentil variety from non-least developed countries (LDCs), as the duty creates “procedural hurdles even for zero duty imports from the LDCs”.

Unseasonal rains in key growing states such as Karnataka is anticipated to trim output of the pulses variety, according to market analysts.

Total pulses output in the 2021-22 crop year stood at a record 27.69 million tonne, while imports stood at 2.69 million tonne. India relies on imports to meet domestic demand of tur, urad (black gram) and masoor (lentil).

The country has long-term import deals with Myanmar, Mozambique and Malawi for import of pulses to keep supplies steady.