Commodity News

Chana, tur Prices seen falling as Maharashtra stops procuring Pulses at Support Price

According to the record harvest in 2017-18 (July-June), the prices of pulses have remained below their respective MSP levels through most of the season. For Chana, the minimum support price was fixed at ₹4,400, and that for tur was set at ₹5,400.

The prices of Chana and Tur are expected to fall by ₹200 a quintal in the next few weeks after the Maharashtra Government discontinued procurement of the pulses under the Minimum Support Price (MSP) scheme, according to  traders and market experts. The State government will now pay a subsidy of ₹1,000 for each to compensate for the low prices.

In the benchmark Akola market, Tur was sold for ₹4,000 a quintal on 7th June 2018,today, and Chana for ₹3,300.

“The decision to shift from procurement to Bhavantar (price deficit plan) was taken in the wake of shortage of godowns for storage and packaging bags, which has been posing a risk of huge produce getting damaged due to rains,” Pasha Patel, Chairman, Maharashtra Commission for Agricultural Costs and Prices, said.

Farmers will sell Chana at a rate determined by traders and millers, which is likely to pull prices ₹100200 down, Vikas Gupta, a Delhi-based pulses trader further added.

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