Fall in pulse prices likely as first import consignment arrives soon

As the prices of pulses saw a sharp rise, the Modi government on Wednesday hoped that imports could help bring down the prices of the essential commodities.

With the first consignment of imported pulses expected to reach the Mumbai port on Saturday, the government expected the prices of Tur dal and Urad to ease.

Tur dal was retailing at Rs 150 per kg while urad was being sold at between Rs 130 and Rs 160 per kg. The government had asked MMTC to import 5000 tonnes each of tur and urad variety of pulses to control price rise.

The Union Cabinet, at a meeting chaired by Prime Minister Narendra Modi, approved reimbursement of Rs 113.40 crore to the state-owned MMTC, PEC, STC and NAFED for incurring losses on import of pulses between 2006 and 2011. An official statement said the decision to reimburse the losses incurred by the public sector undertakings will make them financially sound to intensify trading activities to cool down prices of essential commodities.
The Centre had introduced two schemes to bridge the demand-supply gap in pulses during 2006-11.

It had asked the four agencies to import and sell in the open market with subject to reimbursement of 15 per cent losses.