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In a move to stabilize pulse prices and prevent hoarding, India’s government has extended stock limits on key varieties, tur and urad, until the end of the year. Wholesalers and retailers now have set limits on stocking these essential food items, and legal entities must declare and maintain their stock levels on the Department of Consumer Affairs’ portal. The decision comes in response to challenges in pulse production caused by erratic rainfall and concerns over price hikes.
Highlights
Stock Limits Extended: The Indian government has extended the stock limits on pulses such as tur and urad until December 31, 2023, with the aim of preventing hoarding and stabilizing the prices of these pulses.
Legal Amendment: The Ministry of Consumer Affairs, Food, and Public Distribution has issued an extraordinary gazette notification, making amendments to the Removal of Licensing Requirements, Stock Limits, and Movement Restrictions on Specified Foodstuffs Order, 2016.
Immediate Implementation: The Removal of Licensing Requirements, Stocks Limits, and Movement Restrictions on Specified Foodstuffs (Third Amendment) Order, 2023 will be in effect immediately and will include pulses like tur and urad.
Stock Limits Defined: Wholesalers are limited to stocking 200 tonnes of these pulses, while retailers can hold up to five tonnes. Large retail chains are allowed 5 tonnes per retail outlet and 200 tonnes at depots.
Stock Limits for Millers and Importers: Millers’ stock limits are set at the last three months’ production or 25% of the annual installed capacity, whichever is higher. Importers are not allowed to keep imported stock beyond 60 days from the date of customs clearance.
Stock Declaration: Legal entities are required to declare their stock position on the Department of Consumer Affairs’ portal. If their stocks exceed the prescribed limits, they must bring them down to the limits within 30 days. The trade is also instructed to regularly declare and update their pulse stocks on the ministry portal.
Reason for Extension: The extension of stock limits is partly in response to weak kharif (monsoon) sowing and erratic rainfall patterns in June, which have affected pulse production and led to concerns about price rises.
Production Estimates: According to the first advance estimates for the kharif 2023-24 season, tur production is expected to be 3.42 million tonnes, which is approximately 3.3% higher than the final estimate for 2022-23. In contrast, urad output is projected to be 14.7% lower at 1.51 million tonnes compared to the previous year’s 1.77 million tonnes.
Conclusion
In conclusion, the Indian government’s decision to extend stock limits on pulses like tur and urad until December 31, 2023, reflects its commitment to maintaining stability in food prices and preventing hoarding. With defined stock limits for wholesalers, retailers, millers, and importers, the policy aims to ensure a consistent and accessible supply of these essential food items. Legal entities are required to adhere to these limits and promptly declare their stock levels on an official portal. This measure is a response to challenges in pulse production caused by erratic rainfall, and it underscores the government’s proactive approach in managing the nation’s food security and economic stability.
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