Government creates pulses buffer stock of 10 lakh tonnes so far
NEW DELHI: The government today said it has created a buffer stock of 10 lakh tonnes of pulses so far against a total target of 20 lakh tonnes through domestic procurement and imports.
The buffer stock of pulses would be used to intervene in the market in case of price rise. The government had decided to create buffer stock after the retail prices skyrocketed in the domestic market. This move alongwith other steps has helped in bringing down the rates significantly.
The Inter-Ministerial Committee (IMC) on prices and availability of select essential commodities today held a meeting under the chairmanship of Consumer Affairs Secretary.
It was noted in the meeting that “for the first time a buffer stock of 10 lakh tonnes of pulses has been created through domestic procurement and imports”.
Of this, five lakh tonnes have been procured during ongoing kharif marketing season, an official statement said.
The government procurement intervention has helped farmers get remunerative prices for kharif pulses.
IMC directed procuring agencies to continue procurement operations for pulses at MSP plus bonus.
“Procurement and price support would incentivize farmers to take up cultivation of pulses on larger scale,” the statement said.
Source: ECONOMIC TIMES