Pulse prices fall 30%, chana rates likely to ease: Govt

New Delhi: Pulse prices have dropped by about 30 percent in the last one year and rates of chana dal are likely to fall on bumper production, the government said on Thursday.

A Committee of Secretaries (CoS) on procurement of pulses, chaired by Cabinet Secretary P K Sinha, met today and noted the record purchase of pulses in the kharif season.

The panel reviewed the buffer stock situation and noted that 16.46 lakh tonnes of pulses have been procured so far, of which 8 lakh tonnes is tur bought from farmers at support price of Rs 50.50 per kg during the current kharif season.

"The CoS noted that prices of pulses on an average have fallen by about 30 percent as compared to a year before. The CoS also noted that the prices of chana are likely to come down with record production of chana during ensuing Rabi season and its arrival in the market," an official statement said.

The committee said the government will vigorously pursue building up of 20 lakh tonnes of buffer stock of pulses for price stabilisation.

The government had decided to create a buffer stock of 20 lakh tonnes of pulses after retail prices crossed Rs 200/kg.

The panel also reviewed overall price situation of essential commodities and noted that prices need to be monitored on a regular basis. Close watch should be kept on hoarding and unscrupulous trade on essential commodities, including pulses, it added.

Pulses production is estimated at record 22 million tonnes in the 2016-17 crop year (July-June) as against 16.5 million tonnes in the previous year.