Pulses prices News
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In the second consecutive month of decline, wholesale inflation eased to 3.39 percent in October as food articles, led by vegetables, witnessed softening of prices. The wholesale price-based inflation, reflecting the annual rate of price rise, in September stood at 3.57 percent. In October 2015, WPI inflation was (-)3.70 percent.
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Enthused by moderation in retail inflation, the Finance Ministry today expressed hope that RBI will take into account improvement in the price situation while deciding on rate cut in its next policy review due in October.
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The government Thursday directed procurement agencies, including NAFED, to buy tur, urad and moong directly from farmers in all producing states for creating buffer stock to supply lentils at cheaper rates and ensuring support price for growers.
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Congress vice president Rahul Gandhi took on the Narendra Modi government on Thursday in the Lok Sabha on the issue of rising prices of essential commodities.
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To help tame spiralling pulse prices that have hit Rs 200 per kg, traders have signed contracts to import about 3 million tonnes of lentils so far this year worth about USD 2 billion as domestic demand spikes.
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Concerned over food inflation, Finance Minister Arun Jaitley will review the situation on Wednesday and discuss steps to keep prices of essential commodities, including pulses, in check.
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Worried about a further spike in prices of pulses in coming months, the Centre today asked state governments not to levy local taxes like VAT and mandi fees on dals, besides taking stern action against hoarders to boost supply and bring down rates.
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Expressing concern over rise in prices of pulses, traders' body CAIT today said the government should impose stock limit on first importers and allow only domestic process houses to import foodgrain and pulses.
The government on Monday said it is keeping a close watch on the prices of pulses which are "more or less stable" in the Rs 83-177/kg range for the last one month in retail markets across the country.
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India needs to import 65 lakh tonnes of pulses this year to meet the domestic shortfall, Food Minister Ram Vilas Paswan said today and assured that the government will not allow prices to rise in any circumstances.
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After procuring 50,000 tonnes of pulses for buffer stock, Union Food Minister Ram Vilas Paswan on Tuesday asked the states to place their requirement so that the lentils can be offloaded in the market to check prices.
Amid production concerns due to back-to-back drought, the government has issued a tender for importing 5,000 tonnes of pigeon peas (tur) to boost domestic supply and control prices.
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The prices have declined from the peak of Rs 200 per kg in October to Rs 160 at present due to various government measures including unearthing of hoarded stock and offloading that in the retail market.
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Over 51,000 tonnes of pulses, out of 1.3 lakh tonnes seized during the raids, have been offloaded in the market so far as part of the government's steps to boost domestic availability and control prices.
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Concerned over widening gap in demand and supply of pulses leading to exorbitant rise in prices, the Commerce Ministry will hold a meeting Wednesday with importers on their strategy on dealing with the situation in the coming months.
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In a sarcastic comment over soaring prices of pulses and other kitchen staples, the Shiv Sena on Friday advised Maharashtra Chief Minister Devendra Fadnavis to listen to his wife and bring the rates under control.
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Tomato prices have now hit the roof with the rates rising by 50 percent in just about a month to Rs 62 a kg here, even as the government said a moderation was likely soon with new crops.
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Over 1.20 lakh tonnes of pulses have been seized from hoarders across the country so far as part of the government's steps to control prices of lentils, which still remain expensive for common man.
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