More Stories

Informist, Tuesday, Jul 16, 2024

 

MUMBAI – Prices of major pulses, including chana, tur, and urad, have declined by about 4% sequentially in major wholesale markets across the country, though retail prices are yet to cool down, Consumer Affairs Secretary Nidhi Khare said today.

 

At a meeting with representatives of the Retailers Association of India, the secretary said the diverging trends between wholesale market prices and retail prices suggest that retailers are deriving higher profit margins.

 

The meeting was organised to discuss the price scenario of pulses and compliance with stock limits on tur and chana last month, the consumer affairs department said in a release.

 

According to the consumer affairs department data, daily average retail prices of tur were up 4% on month at 168.75 rupees per kg. Wholesale prices of urad fell 3.1% from a week ago in Indore, while the retail prices were largely steady at 127.95 rupees per kg, the department data showed. 

 

The government in June imposed stock limits on tur, chana and kabuli chana for retailers, wholesalers and millers till Sep 30 to prevent speculation and improve affordability in domestic markets. The stock limit has been set at 5 tn for retailers and 200 tn for wholesalers. For millers, the stock limit has been set at three months of production or 25% of annual installed capacity, whichever is higher. 

 

The stock positions of all entities, including big chain retailers, are being closely monitored to ensure that the prescribed limits are not breached. Breach of stock limits, speculation and profiteering on the part of market players would invite stern actions from the government, Khare was quoted as saying in the release. 

  

The secretary said the sowing of kharif pulses was robust. According to the crop sowing data released on Monday, the area under pulses rose 26% on year to 6.23 mln ha. 

 

The government has undertaken numerous efforts to improve the production of tur and urad, including the distribution of good quality seeds to farmers through the National Agricultural Cooperative Marketing Federation of India and National Cooperative Consumers' Federation of India, the release said. 

 

The agriculture ministry is in touch with state agriculture departments to provide all necessary support, it said.

 

The retail industry representatives assured the government that they would make necessary adjustments in retail margins and maintain them at nominal levels to ensure the availability of pulses at affordable prices to the consumers, according to the release.  End

 

Reported by J. Navya Sruthi

Edited by Saji George Titus

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.

 

Informist Media Tel +91 (22) 6985-4000 

Send comments to feedback@informistmedia.com

 

© Informist Media Pvt. Ltd. 2024. All rights reserved.