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Centre releases Rs 1,160 cr to Nafed for buying pulses, onion


Press Trust of India  |  New Delhi 

The Centre has released Rs 1,160 crore to cooperative Nafed for undertaking procurement of rabi pulses grown in the crop year 2019-20, directly from farmers for building a buffer stock of onion and pulses, a senior government official said on Friday.

The fund has been made available through the Price Stabilisation Fund (PSF) operated by the consumer affairs ministry. Under the PSF, commodities are purchased at market prices.

The government has set a procurement target of 50,000 tonnes of onion, 5.5 lakh tonnes of tur dal and 1.5 lakh tonnes of masoor dal for the buffer stock purpose.

"Earlier, Nafed was asked to procure 2 lakh tonnes of tur dal from the rabi season. Now, it has been decided to procure additional 3.5 lakh tonnes of tur, taking total to 5.5 lakh tonne," the official told PTI.

An advance of Rs 1,160 crore has also been released to Nafed for this purpose, he said adding that the cooperative has also been asked to undertake 1.5 lakh tonnes of masoor dal under the PSF.

Till April, Nafed had purchased 1.21 lakh tonnes of tur dal under the scheme, he added.

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

First Published: Fri, May 22 2020. 16:03 IST