Government to release Tur from national buffer till imported stocks arrive in Indian market

The Government of India announced today that they would release Tur from the national buffer in a calibrated and targeted manner till imported stocks arrive in the Indian market. The Department of Consumer Affairs, Ministry of Consumer Affairs, Food & Public Distribution has directed National Agricultural Cooperative Marketing Federation (NAFED) and National Cooperative Consumers Federation (NCCF) to dispose of Tur through online auction among eligible millers to augment the available stocks for milling into Tur Dal for the consumers.

The quantities being auctioned and the frequency will be calibrated on the basis of the assessed impact of the disposal on the availability of Tur to consumers at affordable prices, the ministry mentioned in its release on Tuesday. On 2nd June, 2023, the government had imposed stock limits on Tur and Urad by invoking the Essential Commodities Act, 1955 to prevent hoarding and unscrupulous speculation and improve affordability to the consumers. Under this order, Tur and Urad have been prescribed stock limits until 31st October 2023 for all states and UTs.

Stock limits applicable to each of the pulses individually are 200 MT for wholesalers; 5 MT for retailers; 5 MT at each retail outlet and 200 MT at the depot for big chain retailers; last 3 months of production or 25% of annual installed capacity, whichever is higher, for the millers. The order has also made it mandatory for these entities to declare the stock position on the portal (https://fcainfoweb.nic.in/psp) of the Department.

The implementation of stock limit order and status of stock disclosure on the portal are continuously monitored by the Department of Consumers Affairs and the State Governments. The State Governments are also continuously monitoring the prices in their respective States. They are verifying the stock positions of stock-holding entities in order to take strict action on those who violated the stock limits order.

Also Read: Govt approves investment proposals worth Rs 56,000 crore in 16 states for 2023-24
 

Also Read: Zerodha co-founder Nithin Kamath: It's difficult to build broking business without technology