Business

Centre instructs states to increase surveillance on hoarding of pulses to prevent price inflation

New Delhi, April 10 (IANS) The Centre has instructed all states and UTs to implement weekly stock disclosure of pulses by stockholding entities to prevent hoarding and market manipulation, leading to a hike in prices. The Department of Consumer Affairs ordered verification of stocks in warehouses to crack down on false reporting.

States and UTs were urged to monitor pulse stock positions and price trends to curb hoarding. Secretary Nidhi Khare met with state officials to discuss the enforcement of pulses stock disclosure. Discussions were also held with importers associations and industry representatives regarding import and stock disclosures.

Importers and industry players have been mandated to declare their pulse stocks weekly, including yellow peas. The stock disclosure portal has been revamped to include yellow peas and introduce Big Chain Retailer as an operational entity starting from April 15, 2024.

In addition to the major pulses, states and UTs are required to monitor the stock position of imported yellow peas. Imports of yellow peas have been permitted from December 8, 2023, until June 30, 2024, to enhance pulses availability. Secretary Khare emphasized the continuous release of imported yellow peas and other pulses in the market.

The crackdown aims to ensure transparency and prevent market manipulations in the pulses sector. Strict actions will be taken against entities found providing false information. The move is expected to stabilize pulse prices and thwart any artificial inflation in the market, benefiting consumers in the long run.

The directive underlines the government’s commitment to promoting fair trade practices and protecting consumers’ interests. It underscores the importance of effective monitoring and enforcement mechanisms to safeguard against price hikes and ensure a steady supply of essential commodities in the market.

IANS

IANS, established in 1986, is India's largest independent news service, offering 24x7 news from India and South Asia, and a preferred source for diverse content across six business verticals.

Related Articles