New Delhi, Dec 10: With pulse prices continuing to rule up to Rs 190 per kg, the government today decided to create a buffer stock of pulses by procuring 1.5 lakh tonnes of lentils that will be used to check spurts in retail rates.
The Cabinet Committee on Economic Affairs (CCEA) also decided to import pulses if required.
The government had in October announced that it will create a buffer stock of pulses for making market intervention when prices firm up in retail markets.
An official statement said that pulses would be procured at “market prices” through Food Corporation of India (FCI), cooperative Nafed and Small Farmers’ Agribusiness Consortium (SFAC) and any other agency as may be decided. SFAC will undertake procurement through Farmer Producer Organisations.
The procurement in kharif and rabi 2015-16 will be done at market price above Minimum Support Price (MSP) out of the Price Stabilisation Fund.
The CCEA decided to import pulses, if necessity arises, through a public sector enterprise of Commerce Ministry.
The need for creating the buffer stock arose as retail prices have gone through the roof due to fall in domestic output by two million tonnes to 17.2 million tonnes in 2014-15 crop year (July-June).
