Hoarding alert: Centre forms panel to track stocks of pulse

CONSUMER PULSES INFLATION WAS 4.09% IN FEBRUARY AGAINST 4.27% IN THE PRECEDING MONTH

NEW DELHI: The Centre formed a committee to track stocks of tur or pigeon pea, a widely consumed variety of pulses, held by importers, millers and traders after market intelligence inputs of a hoarding nexus to ratchet up prices in coming months, an official statement said.

The panel, led by Nidhi Khare, additional secretary in the consumer affairs ministry, will also monitor stocks of other pulses varieties to take “necessary preemptive measures in the event of unwarranted price rise in the coming months”, amid reports that despite sufficient imports, supplies were thin in markets.

Consumer pulses inflation was 4.09% in February against 4.27% in the preceding month.

The government wanted traders to earn reasonable profits “but if you try to game it, then we are there to control. That is what we get paid for. That’s my friendly warning,” consumer affairs secretary Rohit Kumar Singh had said, HT reported on February 18.

“The decision comes against the backdrop of reports of market players not releasing stocks despite regular arrival of imports in good quantities,” the consumer affairs ministry said on Monday.

The government will “deal” with unscrupulous speculators, it added.

On August 22 last year, the Union government asked the states to require stockists to disclose tur quantities held by them mandatorily under the Essential Commodities Act, 1955.

To ease supplies, the Centre has waived off 10% duty on import of the lentil variety from non-least developed countries.