Pulses: Government took decision to sale Pulses from Buffer stock

Preparation of government to sell cheaper pulses in festive seasons & Decision to sale buffer stocks of pulses - Central Government

For festivals, the government is preparing to sell pulses at cheaper rates to curb prices. Food Ministry has planned to sell pulses at US$277 per mt.  The Consumer Affairs ministry has sent a proposal for the government to sell 550,000 tonnes of pulses. The Consumer affairs Ministry has sought the approval of the Finance Ministry to sell the cheap pulses under which the government will sell Arhar, Urad, Masoor. The government has a buffer stock of 2.0 million tonnes. Explain that five states have demanded pulses from the government, which include Tamilnadu, Karnataka, Gujarat, Andhra Pradesh and Maharashtra.

The government has taken decision to sale 550,000 tonnes stock from its buffer stock. This sale will be done for central welfare schemes like five states and mid-day meal programs. Apart from this, the Central Government is also keen to work with them to prepare a system for updating the list of beneficiaries included under National Food Security Act (NFSA). With the automatic updating of this list, the center will be able to remove the names of the beneficiaries or remove the concerns related to the PDS list. Often changes in the list due to change in address, marriage or death. This kind of concern has also emerged during the NFS's latest nationwide social audit. Food Minister Ram Vilas Paswan has said that the buffer stock of 2 million tonnes of sugar is maintained on the pulses and a decision has been taken to give some quantity to states and their welfare schemes.

For the first time, the government had decided to make buffer stocks of pulses for the first time to ensure that farmers get better prices and at the same time to increase the local supply during the time of price increases, this stock can be used. A buffer stock of nearly 2 million tons was made through local purchase and import. He said that about 350,000 lakh tonnes of pulses would be given to five states - Karnataka, Gujarat, Tamil Nadu, Andhra Pradesh and Telangana at a lower cost.

He said that at the same time, 200,000 tonnes of pulses would be provided for consumption under central welfare schemes such as mid-day meal program and approval for the cabinet would be taken soon. The Minister also informed that the same quantities of pulses are already being sold in the open market through auction. So far, nearly two lakh tonnes of pulses have been sold through auction, but according to the Ministry data, its target is to settle 400,000 tonnes of pulses. Paswan said that apart from the auction route, adequate amounts of pulses will be sold immediately and due to this the burden of buffer stock will be reduced. Consumer Affairs Secretary Avinash Shrivastava said, "If at least 1 million tonnes of pulses are released from our stock, then we will be able to manage the remaining one million tonnes easily. We will tackle the old stocks first.

It is noteworthy that last year the government procured pulses at the market rate to increase local supply and curb retail prices, but when huge quantities were harvested and the prices broke, the government started buying it at the support price. At present, the prices of most of the pulses are still low in the retail market. The crop year 2016-17 (July to June) has produced record 2.295 million tonnes of pulses. The reason for this was that the rains were good and the support price was also good.

Chana Crack-down, Lower Circuit by 3%

After the 3-day holiday, the first trading day of the week opened the market and the gram broke. Given the pressure of selling in the gram and after seeing that the gram touched the level of US$840 per mt.  with the fall of 3 slabs. Chana November futures fetched level below US$845. Due to the absence of demand from the spot market and the demand for any kind of demand in the festive season, there is a decline in the prices of gram. Spot Market experts believe that the demand for gram is not high and the goods which the stockist kept hidden have come to market now. Even some stockist imported chana too was present in abundance. According to experts, Chana is currently playing in the hands of the stories, considering the actual quantities of gram and fundamentals, further pressure may continue in the gram. But there is a strong sell-out in the market and due to the sharp decline in the futures trade, the spot market has also been weakened. The boards are not being lifted from the market. In some markets of Rajasthan, gram prices are started to be spoken below US$760 per mt.