Prices of pulses rise on reports of crop damage due to heavy rains in central and west India
The prices of pulses have been rising over the past 2 weeks, due to crop damage brought on by heavy rains in western and central parts of the country. In Delhi, some pulses have become costlier by about 12%. Prerana Desai, head of research at Edelweiss Agri Services & Credit, said prices have risen in part due to the import restriction imposed by the government.
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The traders said that tur prices fell by 8 per cent in Mumbai’s wholesale mandi to Rs 48.50 per kg.
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Analyst said the hike in prices was due to anticipation of lower kharif crop.
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The area for pulses has fallen 20 per cent to 27.51 lakh hectare.
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Traders and companies said prices will correct further depending on monsoon arrival and planting.
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The government has a stock of close to 3.5 million tonnes of pulses, including a buffer of 1.4 million tonnes, said industry executives.
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The aim is to improve the returns of farmers across the country. If procurement is similar to last season, it is estimated that rice farmers alone will make Rs 7,000 crore more than last year.
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