The Indian Pulses and Grains Association of India expects price of pulses to come down by 10-15 per cent in next 15 days with imported pulses reaching the markets.
The association has agreed to sell tur and masur below the market price to the government for onward sale through public distribution system. It will sell 100 tonnes of tur a day at ₹135/kg against the retail price of ₹230 and a similar quantity of masur dal at ₹80.
Addressing the media, Pravin Dongre, Chairman, IPGA, said pulses prices will come down by 10-15 per cent next fortnight as shipments of 25 lakh tonnes worth ₹6,000 crore would hit the shores of Mumbai in next three months.
The Maharashtra government should remove the stock limit of 350 tonnes on importers imposed two days back otherwise the shipments will move to West Bengal or Tamil Nadu where there is no stock limit, he said. Incidentally, Mumbai port handles 50 per cent of total pulses imported into the country. Some of the importers have booked pulses in bulk quantity of 50,000 tonnes and this needs to be cancelled or diverted, he said. The stock limits may bring down prices in the short-term but in the long run it will unsettle the trade. Credibility of importers will be hit as they will be forced to cancel their orders leading to short supply in the market, he said.
India, which consumes nearly 22 million tonnes of pulses annually, sources yellow peas and lentils mainly from Canada and the United States, while chickpea is imported from Australia and Russia. Green gram and pigeon peas are shipped from Myanmar. The pulses crop in Canada and Australia is expected to be very good this year, however tur will be in short supply till arrivals in India starts from December-end, he said.
Imported tur prices have almost doubled to $1,400 a tonne from $700 a tonne a year ago due to acute shortage in global markets. About 2.5 lakh tonnes of different pulses are stuck in the outskirts of Mumbai port due to the stock limit orders. With Maharashtra cracking down on importers and traders, IPGA appealed Government to give importers, millers, wholesalers and retailers at least 60 to 90 days to liquidate current stocks and achieve the mandated stock limits.
Bimal Kothari, Vice-Chairman, IPGA, said pulses production in India, the world’s largest producer, consumer and importer, was affected due to two consecutive deficient monsoons. The total production in 2014-15 was at 172 lakh tonnes against 192.5 lakh tonnes recorded in the previous year.