Chana On NCDEX Settled Down By -0.7% At 6844

Chana on NCDEX settled down by -0.7% at 6844 on profit booking amid government initiatives to check rising prices and availability of pulses. Government decides to increase the buffer stock of pulses from 1.5 Lakh tonnes to 8 Lakh tonnes to ensure continuous flow and to curb down rising prices. This increase in quantity is expected to help farmers to sell pulses at reasonable rate. At present Central Government is providing un-milled tur and urad from buffer stock to state governments at Rs 66 per kg for retail distribution at not more than Rs 120.

In a bid to increase supplies in the domestic market to rein in soaring prices, the government decided to increase the buffer stock of pulses to 800,000 tons from 150,000 tons at present. "In a significant decision the government has decided to enhance buffer stock of pulses from 150,000 to 800,000 tons in a high level meeting on prices," said a senior official. Earlier government decided to create a buffer stock of 150,000 tons and government agencies have already bought nearly 115,000 tons from domestic market and contracted to import nearly 40,000 tons. At Jaipur market arrivals were reported at 5000 quintals, steady as against previous day’s arrival.

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