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Pulses prices rise 1-8% after govt raises MSP this season

Jul 12, 2019

 

The area for pulses has fallen 20 per cent to 27.51 lakh hectare.

 

Pulses prices have risen by 1-8 per cent after the government raised the minimum support prices (MSP) for the ongoing kharif season. Traders and analysts expect the prices to increase further, with most pulses are selling below the MSP. They say prices are also rising due to lower crop acreage and rising demand for pulses.In the Delhi spot market, masoor price has increased by 7.4 per cent to Rs 4,350 per quintal, chana by 4 per cent to Rs 4,340 while moong by of 3 per cent to Rs 6,200 in the past one week after the increased MSP was announced,” said Anuj Gupta, deputy VPresearch, commodities, Angel Broking. He said urad and tur prices too increased by 1 per cent to Rs 4,925 and Rs 5,650.

 

Other reasons for rising prices are pre-festival season demand, higher consumption of pulses and restricted imports, said Prerana Desai, head of research at Edelweiss Agri Services and Credit. She said prices will go up since there has been lower planting for tur (arhar), moong and urad. The area for pulses has fallen 20 per cent to 27.51 lakh hectare, according to government data.

 

Traders are buying pulses ahead of the festive season which begins in August. Also, with the onset of monsoon, demand for chana used for flour and other food items has increased. The sharp restriction of yellow peas import too has contributed to the firming up of prices,” said Desai. A trader said chana prices are also increasing since besan manufacturers do not appear to be mixing yellow peas, maize and broken rice in it. Both maize and broken rice are much in demand by the animal feed industry and, hence, we see chana demand increasing,” the person said, requesting anonymity.

 

Most of the pulses are still selling below the MSP and there is scope for a further increase,” said Sanjeev Kumar Chadha, MD, National Agricultural Cooperative Marketing Federation (Nafed) which is holding 40 lakh tonne of tur, chana, moong, urad and masoor. Chadha said that even with deficit rain and less area under pulses, the buffer stock will ensure steady supplies for the special welfare schemes across 12 states in the country and steady availability in the market.

 

Source: https://economictimes.indiatimes.com/

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