Government Forms Committee to Oversee Tur Stocks and Prevent Hoarding

Furthermore, in order to facilitate smooth and seamless imports, the government has eliminated the 10% duty on tur imports from non-LDC countries, as the duty creates procedural hurdles even for zero duty imports from LDC countries (LDCs).

On March 27, the government announced the formation of a committee to monitor the stock of tur dal held by importers, mills, stockists, and traders in order to prevent hoarding and speculation.

According to an official statement, the government is also constantly monitoring the stock position of other pulses in the domestic market in order to take required preventive actions in the case of an unjustified price rise in the coming months. The decision was made in response to complaints of market participants failing to release stocks despite regular arrivals of large quantities of goods, according to the statement. 

The committee, chaired by Additional Secretary Nidhi Khare, would closely monitor tur stocks in collaboration with state governments. On August 12, last year, the government issued an advise to state governments and union territories under the Essential Commodities Act, 1955, requiring stock disclosure for tur dal.

Furthermore, in order to assist easy and seamless imports, the government has eliminated the 10% charge on tur imports from non-LDC countries, as the levy imposes procedural impediments even for zero duty imports from LDC nations (LDCs).

The most recent announcement of a committee to regulate stock disclosure demonstrates the government's commitment to deal with market hoarders and dishonest speculators. It also demonstrates the government's intention to keep tur prices under control in the next months, according to the statement.