India's acreage of pulses fell by 3.5% this season to cover 13.07 million hectares.
Traders and companies anticipate prices to go up further in anticipation of a lesser crop this year due to fall in planting of oilseed this kharif season.
Domestic production in the current 2016-17 season ending next month is estimated at 20.4 MT, lower than 25.1 MT last year.
The GST Council is likely to treat brands for an application is already made for a trademark akin to a branded product to plug misuse of the provision.
Industry wants the duty on refined oils to be raised to 35% from 20 per cent now.
Tomato supplies are likely to rise in two weeks. “Market will begin to cool when tomatoes from the Nashik belt begin arriving from August 15,” said a trader.
The total acreage under kharif crops increased by 15.47% in the past week with adequate rainfall in most parts of the country, agriculture ministry data showed.
While supplies fell by about 75 per cent, prices shot up by 30-45 per cent, according to restaurants, fresh trade suppliers and processed food companies selling lamb, mutton and bacon.
As of Friday, the total area under crops stood at 56.32 million hectares, up 8 per cent from 52.18 million hectares achieved a year ago, the agriculture ministry said.
“Monsoon season is there till September and deficit rains in some parts of the country should get covered,” agriculture secretary Shobhana K Pattanayak told ET.
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