Pulses Price Close to Rs 200/kg ; Govt to up buffer stock
Prices of pulses inched close to Rs 200/kg Thursday even as the Centre has decided to increase the buffer stock by over five times to 8 lakh tonnes for retail sale at a highly subsidised rate of Rs 120/kg.
It is yet to be seen however whether procuring more pulses for the buffer stock would help in curbing price rise at a time when not many states have evinced interest in lifting the pulses for retail distribution at a cheaper rate.
As per the data maintained by the Consumer Affairs Ministry, maximum retail price of urad is ruling at Rs 196/kg, tur at Rs 166/kg, Moong at Rs 120/kg, Masoor at Rs 105/kg and gram at Rs 93/kg today.
The decision, which is in line with the recommendation of an inter-panel set up by the ministry, was taken yesterday in a high-level meeting headed by Finance Minister Arun Jaitley.
The initial target was to create a buffer stock of 1.5 lakh tonnes of pulses this year. So far, 1.15 lakh tonnes has been purchased for this purpose and the same is being offloaded to states for retail distribution at a cheaper rate.
The buffer stock is being created by procuring pulses directly from farmers at market prices using the Price Stabilisation Fund. The stock is being released to states for retail distribution at a subsidised rate of Rs 120 per kg.