The Department of Consumer Affairs, Government of India, has released an important recommendation requiring the disclosure of Masur (lentil) stock with immediate effect in an effort to uphold transparency and prevent any attempts at market manipulation.
The advisory stipulates that all stakeholders involved in the lentil trade must promptly disclose their Masur stock on the dedicated stock disclosure portal managed by the department, accessible at https://fcainfoweb.nic.in/psp, every Friday.
The move is aimed at addressing concerns of potential hoarding, which can artificially inflate prices and adversely affect consumers. Any undisclosed Masur stock discovered will be treated as hoarding, and appropriate action under the Essential Commodities (EC) Act will be initiated against those responsible.
Rohit Kumar Singh, the Secretary of the Department of Consumer Affairs, made this announcement during the department's weekly price review meeting. One of the primary objectives of this advisory is to expand the lentil buffer procurement strategy. The department aims to procure available stocks at prices aligned with the Minimum Support Price (MSP).
This development arrived at a critical juncture when organizations like the National Agricultural Cooperative Marketing Federation (NAFED) and the National Cooperative Consumer Federation (NCCF) had to suspend their tenders to purchase imported lentils. This suspension was due to the exorbitant bids received from a select few suppliers, raising concerns of potential cartelization in the market.
Secretary Rohit Kumar Singh emphasized that as lentil imports surge, particularly from Canada, and tur imports from African countries, certain market players have attempted to manipulate the market to the detriment of consumers and the nation's interests. The government is closely monitoring these developments and is prepared to implement stringent measures to release stock into the market. This move is aimed at ensuring the availability of all pulses, including Masur, at reasonable prices during the festival season.
He further emphasized the importance of striking a delicate balance between the interests of farmers and consumers. The Department of Consumer Affairs remains committed to taking strong actions against individuals or entities that seek to harm the interests of Indian consumers and farmers through unscrupulous practices.
Stakeholders are urged to comply with the new disclosure requirements to contribute to a more equitable and prosperous lentil market in India.
