Wednesday April 23, 2008

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Imported pulses to cool prices soon  

Agencies

New Delhi, April 22: Amid the supply-demand mismatch, increased arrival of imported pulses may slightly ease prices in the coming days, giving some respite to consumers who are reeling under pressure of higher commodity prices, market experts said. "Prices of pulses may come down marginally if the supplies are enough in the market," an analyst of Karvy Comtrade told a news agency.

Currently, retail prices of gram and tur in four metros are ruling in the range of Rs 36-44 a kilo. In next few weeks, there would be enough supply as the government-owned trading companies like PEC have already floated tenders for sale of imported pulses, traders said. Last week, PEC invited bids for sale of unspecified quantity of imported pulses like tur, urad, moong.

Yesterday, it floated another bid for sale of 20,000 tons of Canadian yellow peas. According to the company, bids for yellow peas would close on April 25 and the decision on the tender would be taken by May 2. Besides, the government has taken a slew of other measures to arrest inflation, which is hovering over 7 per cent.

It extended the ban on pulses for one more year to boost domestic supply. Agriculture Minister Sharad Pawar had recently said the government would take all steps to contain rising prices. He said if need arises, it may import more pulses. India produces on an average about 14 million tons of pulses and depends on imports to meet the increased demand. The government has contracted to buy a total of 14.02 lakh tons of pulses for 2007-08 from overseas market, of which 10.7 lakh tons have arrived as on February 8.

 

 
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