Companies & Sectors
Prices of pulses drop in the wholesale market due to adequate supply

However, retailers continue to charge high prices despite adequate supply. Again, boost in production is expected in the coming ‘rabi’ season

After a short surge in the prices of pulses during the festive season, rates have now come down and stabilised in the wholesale market. Despite this, the consumer continues to pay high prices for pulses in the retail market.

Recently, the government hiked the minimum support price (MSP) for select pulses like chana and masur (lentils). Experts say that it will encourage farmers to take up the cultivation of pulses in the rabi season. MSP, for both the pulses, has been fixed at Rs2,800 a quintal, an increase of Rs700 per quintal for chana and Rs550 per quintal for masur as compared to last year’s prices.

Bimal Kothari, vice-president, India Pulses and Grain Association (IPGA), told Moneylife, “Pulses prices have significantly come down. They are flat in the wholesale market. The increment in the MSP and good monsoon are the key factors which will boost the production. We don’t think there is any reason for the prices to increase in the near future.”

He added, “There is an adequate supply of pulses such as yellow peas, tur daal, masur, moong and urad. In fact, around 3 lakh yellow peas were imported from Canada and France at the end of October.”

Traders say that in the coming rabi season, production is expected to go up given the good remunerative prices given to the farmers by the government.

However, people complain of being charged with high prices for pulses from their retailers under the clout of ‘inflation and the general price rise trend’.

“I agree that people are paying high prices on pulses despite record production and continuous supply. There has been considerable difference in the prices in the wholesale and retail market. There is an urgent need to regulate the retail market by the government.”

The Union government has prepared a contingency plan to increase pulses production in the rabi season, through area expansion and productivity enhancement. The plan targets to achieve an additional production of 2.78 million tonnes (MT) during the ensuing rabi season and to offset the loss of the kharif season. For this purpose, an additional amount of Rs80 crore has been allocated under the NFSM (National Food Security Mission)-Pulses programme.

User

Exclusive Motors unveils Lamborghini Aventador LP 700-4

The car that is named after Aventador, the bull that entered into battle in October 1993 at the Saragossa Arena

Exclusive Motors Pvt Ltd has launched Lamborghini Aventador LP 700-4 at its showroom in Delhi.

With the launch of Aventador LP 700-4, Automobili Lamborghini has redefined the very pinnacle of the world super sports car market – brutal power, outstanding lightweight engineering and phenomenal handling precision are combined with peerless design to deliver an unparalleled driving experience. The car that is named after Aventador, the bull that entered into battle in October 1993 at the Saragossa Arena, earning the “Trofeo de la Peña La Madroñera” exhibits the same outstanding courage and performance. With the Aventador LP 700-4, the future of the super sports car is now part of the present.

User

Rajeev Kumar Agarwal takes charge as whole time member, SEBI

An IIT Roorkee alumnus, Rajeev Kumar Agarwal is a 1983-batch Indian Revenue Service officer

Rajeev Kumar Agarwal has taken charge as whole time member, Securities and Exchange Board of India (SEBI) in Mumbai today.

An IIT Roorkee alumnus, he is a 1983-batch Indian Revenue Service (IRS) officer and prior to this assignment, he held the position of commissioner, Income Tax. He has wide experience in investigation and regulation of financial markets.

He has served as a member of the Forward Markets Commission (FMC)—the regulator for the commodity futures business for five-and-a-half years, where he was responsible for laying down the regulatory mechanisms for commodity futures markets and the development of the markets which had just started their operations. He has been associated with stock market investigations also while in Income Tax Department. He has been member of various committees of government of India notably “Futures Markets and Internal Trade”.

User

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)