India's Buffer Stock Surpasses 776,000 MT
DELHI - Feb 7/17 - SNS -- India has accumulated a net buffer stock of 776,500 metric tons (MT) of pulses, according to Shri C.R Chaudhary, the Minister of State for Consumer Affairs, Food and Public Distribution.
Since announcing the decision to create the buffer, state trading companies have bought 406,000 MT of pulses from other countries and bought 564,961 MT from the country's farmers. Of the imports bought, 288,737 MT have been delivered.
Of the total purchases, 77,199 MT have been released for public distribution in an effort to control price inflation.
World markets for pulses have declined and domestic markets have come under selling pressure from farmers in recent weeks. Even so, the minister implied buffer stocks are the reason "prices of pulses have not increased during the last two months of the current fiscal year."
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