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Sharp Spurt Noted In Procurement Of Pulses And Oilseeds

Capital Market 

The Government has undertaken various interventions to boost the pulse and oilseeds production during last four and a half years to achieve self-sufficiency in the country, according to a latest official press update. The country has reported production of 25.23 Million Tonnes of pulses during 2017-18 against production of 14.66 Million Tonnes in the year 2009-10, an increase of 72.10%. Similarly, the production of oilseeds has increased from 2.49 Million Tonnes to 3.13 Million Tonnes during the same period, registering an increase of 25.71%.

The Govt. of has supported the growers' with record procurement of pulses at MSP. Further, the Govt. of India's decision to create buffer stock of pulses has also led to the increase of pulses production in the country. The bold step to raise Minimum Support Price to 1.5 times of cost of production undertaken this year will further encourage the farmers to grow more pulses and oilseeds. Notably, the MSP of Moong has increased from Rs. 4500 per quintal in 2013-14 to Rs. 6979 in 2018-19. Similarly for Urad from Rs. 4300 to Rs. 5600 per quintal and for Sunflower from Rs. 3700 to Rs. 5388 per quintal.

It is notable that during 5 years from 2009-10 to 2013-14, only a quantity of 7.28 of pulses and oilseeds valuing Rs. 3117.38 Crore was procured at MSP whereas during the period from 2014-15 to 2018-19, a quantity of 93.97 of pulses and oilseeds valuing Rs. 44,142.50 Crore were procured at MSP by Govt. of Procurement of 78.84 amounting to Rs 35,800 crore alone has been contributed by the states of Madhya Pradesh, Gujarat, Rajasthan, Uttar Pradesh, Maharashtra, Telangana & More than 54 lakh farmers benefitted from the procurement of pulses and oilseeds during this period indicating that on an average a was benefitted to the extent of approximately Rs. 80,000 by this MSP procurement. The procurement of pulses and oilseeds has increased by almost 13 times during the year 2014 till date as compared to the procurement done from 2009-2014.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, December 04 2018. 17:36 IST