Summer has started and bad news for farmers. The market values of pulses, lentils and oilseeds have fallen below their support price. According to data collected by government agencies, only wheat and cotton prices are above the support price.
Last year, adequate rainfall resulted in heavy agricultural production in Kharif and Rabi season. In addition, adequate imports of pulses and edible oil have helped maintain the prices of agricultural products at support levels. In such a situation, even though the government wants to purchase agricultural products on the support price under the price support scheme on a large scale, the prices of some agricultural products are currently running below the support price.
After the average monsoon in 2024, the prices of various essential commodities are expected to remain stable in the coming months, as well as an forecast of the monsoon more than the average in 2025. Retail inflation also came to a 67 -month low of 2.69 percent in March due to a fall in prices of vegetables, pulses and spices produced in winter. With this, retail inflation has declined for five consecutive months. The value of rice is currently Rs. 100 per kg. This is 2 percent below the support price of 2,300. This is the situation when both Kharif and Rabi crops have been harvested. It is worth noting that the government has targeted to buy 86 million tonnes of rice on support price in the October-September season of 2024-25, which is about 5 percent more than last year.
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