Fine Radar
The News Hub

Govt asks traders to expedite pulses imports from Myanmar

The department of consumer affairs has asked pulses importers to expedite shipment of tur and urad varieties from Myanmar to improve domestic supplies. In a meeting held with importers, the department has stated that if imports of pulses do not ease, the government would consider government-to-government (G2G) deals with Myanmar.

Sources told FE that some of the importers have been deliberately slow in importing pulses from Myanmar, in their bid to jack up domestic prices.

“The consumer affairs department warned exporters of pulses from Myanmar against hoarding of the essential commodity which adversely impacts domestic supplies,” a trader source said.

Also read: Wheat procurement up 30% on year

Following the meeting on Wednesday with importers of pulses by the consumer affairs department, the mandi prices of tur at Latur, Maharashtra, also considered as hub of trade, dropped by Rs Rs 200/quintal to Rs 8,700/quintal on Thursday. The mandi prices are ruling above the Minimum Support Price (MSP) of Rs 6,600/quintal for the season.

The country imported 0.84 MT and 0.89 MT of tur respectively in FY22 and FY23. Urad imports were 0.51 MT and 0.61 MT oin FY22 and FY23 respectively.

Inflation in tur and urad in March, 2023 was 11.61% and 3.15% respectively on year.

In March, the department had constituted a committee to monitor the stock of tur held by entities such as importers, millers, stockists, traders etc. in close coordination with the state governments.

The committee was formed following the reports of market players not releasing stocks despite regular arrival of imports in good quantities. Stockists were advised not to hold back any stock which may disrupt availability of pulses in the domestic market.

Also read: Niti Aayog seeks consultant to review NHAI debt

The agriculture ministry has estimated tur and urad production for 2022-23 (July-June) at 3.7 MT and 2.68 MT respectively.

However, the trade sources have pegged the output of tur at 2.7-2.8 MT for the year because unseasonal rains in October had adversely impacted standing crops in the key producing state of Maharashtra.

Under the bilateral agreement signed last year, India has committed to import 0.25 MT urad and 0.1 MT of tur annually from Myanmar between 2021-22 and 2025-26.

According to estimates, the country imports around 15% of annual pulses consumption. The agriculture ministry has estimated pulses production in the 2022-23 crop year at a record 27.81 MT.

Around 2 MT of pulses were imported in FY22.

In December, 2022, the government had extended its decision to keep ‘free-import’ policy for two varieties – tur and urad by a year till March 31, 2024.

The government in March 2022 had extended the ‘free-import’ policy for two varieties of pulses by a year. Under the regime, introduced in May last year, specified pulses can be imported without any quantitative restrictions.

Modal retail prices of tur according to department of consumer affairs data on Thursday rose to Rs 120/kg from Rs 110/kg prevailed six month back. However modal prices of urad has declined to Rs 110/kg from Rs 120/kg during the same period.

For more latest Economy News Click Here 

Read original article here

Denial of responsibility! FineRadar is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.
Leave A Reply

Your email address will not be published.