Stock-holding restrictions on chana are anticipated

The government is likely to impose stock holding restrictions on chana (gram), after wheat, tur, and urad, as a result of a price increase. The government aims to prevent a potential price increase during the upcoming festive season since mandi prices of chana this month for the first time in many years exceeded the minimum support price (MSP) of Rs 5,350/quintal.

Trade sources reported that mandi prices of chana are currently about Rs 6,100/quintal, the highest in recent years. According to the Department of Consumer Affairs, modal retail prices of the pulse variety increased by more than 14% on Thursday to Rs 80/kg.

The farmers’ cooperative Nafed sold roughly 0.6 million tonnes (MT) of chana from a buffer supply of about 3 MT, according to sources, although prices have not decreased.

The government set limitations on the stocks of tur and urad dal in May till October 31 to prevent stockpiling and speculation in the face of rising costs. For the purpose of enhancing domestic stockpiles, the import duty on tur, urad, and masur has been eliminated.

Leave a Reply

Your email address will not be published. Required fields are marked *