The Hindu Business Line : Govt plans import of 1 mt edible oil, 15 lakh tonnes pulses to control prices

In an effort to control the spiralling rise in prices, the Government plans to import one million tonnes of edible oil and 15 lakh tonnes of pulses, the Union Agriculture Minister, Mr Sharad Pawar, said in Parliament on Wednesday.

Replying to a one-day debate on price rise, Mr Pawar said that there is a scarcity of edible oil in the country. “We will import one million tonnes of edible oil and have told all public sector companies that they should import edible oil,” the Minister said. The oil will be sold at a subsidised rate of Rs 15 a litre throughout the country.

The Minister announced that 15 lakh tonnes of pulses will be imported with an order of 11.86 lakh tonnes being placed before March 31 and added that the Government has already abolished import duty on edible oils and pulses.

No scarcity of rice

The Agriculture Minister said that there was no scarcity of rice in the country and the Government has taken steps such as reducing the import duty to zero and putting restrictions on export of all varieties of rice except Basmati. Mr Pawar also informed the House that production of rice was better than last year and expressed confidence that the Government will procure more than required. Similarly, wheat procurement this year was expected to be 150 lakh tonnes as against 111 lakh tonnes last year, Mr Pawar said.

While emphasising that domestic food grain production was satisfactory, Mr Pawar said prices had risen as the purchasing power of poor people had increased due to welfare schemes such as NREGA and, therefore, the demand had gone up tremendously.

“I would like to assure all members of the House that the policy of the Government is to control inflation as well as to ensure that the growth rate momentum does not decline,” he said.

International aspect

Mr Pawar said there was an international aspect to the price rise as there was a global shortage of food grains and climate change was also having an impact on global production. The Minister, however, asserted that the increase in prices of essential commodities such as wheat and rice in the country was the lowest in the world when compared to other countries.

More Stories on : Economy | Oilseeds & Edible Oil | Pulses

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