NEW DELHI: Concerned about the continuing high prices of pulses, the Centre on Thursday decided to import 1.5 million tonnes of pulses through public sector agencies to stabilise prices.

The decision was taken at a meeting of the Cabinet Committee on Economic Affairs, chaired by Prime Minister Manmohan Singh. Of the total 1.5 million tonnes, public sector agencies have been directed to import 0.75 million tonnes of yellow peas (white matar) and another 0.75 million tonnes of urad, tur, moong, masur and gram.

Union Minister for Information and Broadcasting Priyaranjan Dasmunsi said the public sector agencies, including the National Agriculture and Cooperative Marketing Federation (NAFED), the State Trading Corporation (STC) and the Minerals and Metals Trading Corporation (MMTC) had been asked to formulate market-wise and month-wise plan to import pulses over a period of six to eight months. Mr. Dasmunsi said the public sector agencies concerned would also qualify for subsidy not exceeding 15 per cent without benchmarking the lowest level of loss.

The Government is worried that despite an import of 1.8 million tonnes during 2006-07, prices had not come down. Export of pulses has already been banned. The customs duty on import of pulses has also been reduced from 10 per cent to zero per cent till August. The commodity has been removed from speculation in the futures market and States have been advised to impose restrictions on storage of pulses. The shortfall in pulses production is estimated at 3.2 million tonnes.

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