The price of Urad have started to come down, posting a weekly decline of 3.12 percent and 1.08 percent in Indore and Delhi markets respectively, Central government said in a statement on July 10.
In line with the domestic prices, the landed prices of imported Urad are also on a declining trend, government said.
The area sown for Urad has increased significantly this year as it touched 5.37 hectares compared to 3.67 lakh hectares in the year-ago period. The Centre expects the 90-day crop to experience a healthy Kharif production this year.
“The consistent efforts of department of consumer affairs have resulted in softening of Urad prices. Centre’s proactive measures have been pivotal in stabilizing prices for consumers while ensuring favorable price realization for farmers,” the statement said.
A good rainfall could boost the morale of farmers, leading to the production of a good crop in major Urad producing states such as Madhya Pradesh, Andhra Pradesh, Uttar Pradesh, Rajasthan, Tamil Nadu, and Maharashtra.
Government also said that the procurement of summer Urad under the price support scheme (PSS) by NAFED and NCCF is under progress.
Rising food prices have been a concern recently. A Reuters poll expects inflation to surge in June, snapping five months of dip, largely because of a jump in vegetable prices caused by the damage to crops wrought by extreme weather.
Prices of tomatoes, onions, and potatoes - staples in every Indian kitchen - surged by double digits last month as extreme heat and heavy floods in India's northern states disrupted agricultural production.
The July 5-9 Reuters poll of 54 economists forecast consumer price inflation rose to 4.80 percent last month on a year earlier, up from 4.75 percent in May.
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