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Production of pulses for ’18-19 23.22 MMT as per Third Advance Estimates
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Wednesday, 26 June, 2019, 14 : 00 PM [IST]
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Our Bureau, New Delhi
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Consequent upon merger of regulatory functions of Forward Market Division with SEBI vide Finance Act 2015, SEBI is presently the regulator of commodity derivatives market. Cases of suspected speculation and price manipulation in the agricultural commodity derivatives are taken up by the government regularly with SEBI.
Further, in order to strengthen and maintain the integrity of the commodity derivatives market, SEBI has taken various measures and has prescribed specific norms in the areas of risk management like, imposition of additional or/and special margins to contain high volatility in commodity derivatives prices, position limits, daily price limits, governance of stock exchanges, registration of brokers, etc.
SEBI is also carrying out integrated monitoring and surveillance of trading activity, under which, the commodity derivatives market is continuously kept under watch to ensure market integrity.
As per the Third Advance Estimates released by Department of Agriculture, Cooperation and Farmers Welfare, the production of pulses for the year 2018-19 is estimated to be 23.22 million metric tonne (MMT) as compared to 25.42 MMT as per final estimates for the year 2017-18, while the production of oilseeds for the year 2018-19 is estimated to be 31.42 MMT, as compared to 31.46 MMT as per the final estimates for the year 2017-18.
The total availability of edible oils from all sources (primary and secondary) for 2018-19 is estimated at 99.94 LMT (lakh metric tonne) as against 103.80 LMT in 2017-18.
The country has to rely on imports to meet the gap between demand and supply of edible oils.
The import of edible oils is under the open general licence. In the year 2018-19 (i.e., between November 2018 and April 2019), 7.44 MMT of edible oils was imported as compared to 14.59 MMT in 2017-18. In case of pulses, import during 2018-19 stood at 2.53 MMT as against an import of 5.61 MMT in 2017-18.
Government has taken various measures including initiatives for increasing production and productivity of pulses and oil seeds through the National Food Security Mission (NFSM) and the National Mission on Oilseeds and Oil Palm (NMOOP) respectively, promulgating appropriate minimum support price (MSP) to incentivise production of pulses and oil seeds, introducing suitable trade and fiscal policy measures to promote availability of pulses and edible oil at reasonable prices.
In addition, the government has signed a MoU (Memorandum of Understanding) with Mozambique for assured supply of tur and other pulses, and also undertakes calibrated releases of pulses from buffer from time to time to moderate price fluctuations.
Also, the government closely monitors the prices of pulses and edible oils for timely interventions in case of price fluctuations.
Import of pulses
As on date, the government is not planning to import pulses. It has approved the creation of a dynamic buffer stock of pulses of upto 20 lakh MT.
In the month of September 2018, the government launched a scheme for disposal of stock of pulses procured under the Price Support Scheme (PSS) during Kharif and Rabi season 2017-18, by way of distribution to States/UTs (Union Territories) for utilisation under various welfare schemes like MDM (Mid-Day Meal), PDS (Public Distribution System), ICDS (Integrated Child Development Services), etc., with a Central subsidy of ?15 per kg over the issue price as a one-time measure for a period of 12 months or till the PSS pulses stock of 34.88 lakh MT lasts (whichever is earlier).
In addition, calibrated releases are made from buffer stock of pulses from time to time to moderate price fluctuations.
This information was given in a written reply by Ram Vilas Paswan, minister of consumer affairs, food and public distribution, in Lok Sabha.
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