Commodity Market: The government has extended the period for import of yellow peas. The government has extended the period for import of yellow peas till 28 February 2025. DGFT issued notification. The government’s decision will come into effect with immediate effect. Registration on Import Monitoring System (IMS) will be required for import.
Prices of pulses will fall due to government’s decision
Deepak Pareek of Sumaya Industries It is said that a buffer of 15 lakh tonnes of yellow peas will be created. The government has been extending the period for import of yellow peas several times. The prices of pulses will fall due to the government’s decision to extend the shelf life of yellow peas. He says that by increasing the import of yellow peas, the prices of tur and gram will come closer to the MSP, this will help the government in creating a pulse buffer.
He further said that the government wants to reduce the prices of pulses at any cost. Currently, the prices of pulses are high in the retail market because big retailers are not reducing the prices. A large number of retailers are present in the country. Big retailers are not the only ones reducing prices. It was already expected that the import period would be extended.
Sowing increased at huge cost?
Meanwhile, there is news that sowing of wheat has increased in Rabi season. Oilseed farmers have increased the sowing of wheat. Pulses farmers have also increased sowing. Sowing of wheat has increased for stable price. Till December 20, sowing has been done in 93% area. Sowing has been done in 32 lakh hectares in a week.
Increasing wheat production poses a challenge for oilseeds. There is a possibility of decline in oilseed production. Oilseeds have been sown in 635.60 lakh hectares in the last 5 years. Prices were high in 2022-23 but fell in 2024. The price of soybean still remains below the MSP. Due to high imports, there is pressure on domestic prices. The prices of some pulses in the mandis are lower than the MSP.
WPPS Chairman Ajay Goyal Said that wheat prices have increased in the last few days. The supply of wheat is decreasing as the days pass. The next 2-3 months will be challenging for the industry. Government and industry have different opinions on supply. Last year the prices have increased by 25-30% and in the next month also the prices may increase by 2-4% more. Wheat prices may increase if supply remains low.
He further said that this year private players can make more purchases. This year private players can make more purchases. This year the supply of wheat has been less for the industry. There is good domestic supply of wheat in UP and Punjab. The supply of wheat in Madhya Pradesh is negligible. Traders are moving away from wheat business. Demand for wheat remains good in the country. Small businessmen are facing challenges.
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