NEW DELHI - Oct 14/20 - SNS -- Food price inflation remains a significant issue in India in both wholesale and retail markets, likely contributing to recent decisions to open imports quotas for pigeon peas and black mapte beans as well as release more stocks bought under the minimum prices support (MSP) scheme.
A 400,000 metric ton (MT) import quota was opened for pigeon peas with an expiry date of November 15, while 150,000 MT was opened for black mapte beans, with an expiry date of March 31. Earlier import duty rates for lentils were reduced by 20 points until the end of this month.
Meanwhile, overall wholesale food inflation stood at 4.04% in September, with prices up 8.17% over the same month last year. The inflation rate for pulses was 11.62%, with prices up 12.53% over the same month last year.
At the retail level, the price index for pulse and derived products stood at 150.3 in rural areas and 152.2 in urban centers, compared to 149.3 and 150.8 respectively in August. The base year for the index is 2012. The combined index for pulse prices advanced from 149.8 to 150.9 between August and September.
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