Efforts to help farmers will cost consumers' interests

10-Oct-2024 08:53 PM

New Delhi. The way the central government is taking steps to get better prices for the country's pulses and oilseeds producers, the interests of the common consumers are being ignored.

The main reason for the huge increase in the price of edible oils during the festive season is believed to be the huge increase of 20 percent in its import duty.

The government increased the import duty thinking that this would increase the price of indigenous oils and millers-processors would get an incentive to buy oilseeds, especially soybean, from farmers at a higher price.

The government had asked the indigenous industry not to increase the prices of edible oils for the next one or two months but did not make any concrete effort to control its retail market. The wholesale market price of soybean is also not seeing an increase as expected.

There has been a slight softening in the prices of pulses in recent days, but still its level is quite high. There is a continuous import of Tuvar, Urad, Chana, Masoor and Yellow Peas, while the Kharif crop of Urad and Moong has also started coming to the markets. It is expected that the price of pulses will not rise sharply in the near future.

The price of rice has started rising because the government has made its export policy quite liberal. The wheat market is also bullish because the off-season of its supply has started and the government stock is not being released in the market. During the festive season, the demand, consumption and price of most food products often increases.