Government Initiatives Lead to Decline in Urad Prices

The government has successfully implemented measures that have led to a decline in urad prices in wholesale markets. With increased sowing area and pre-registration of farmers, the Kharif season looks promising for urad production. These efforts aim to stabilize prices and ensure better returns for farmers.

The government on Wednesday announced that urad prices have begun to soften in the wholesale markets of Delhi and Indore, thanks to efforts to boost supply and reports of higher sowing in the ongoing Kharif season.

The area under coverage for urad has reached 5.37 lakh hectares as of July 5, compared to 3.67 lakh hectares last year. 'The consistent efforts of the Department of Consumer Affairs have resulted in the softening of urad prices,' an official statement said.

The central government's proactive measures have been crucial in stabilising prices for consumers while ensuring favorable price realization for farmers, the statement added. Anticipated good rainfall is expected to further boost farmer morale and production in major urad-producing states like Madhya Pradesh, Andhra Pradesh, Uttar Pradesh, Rajasthan, Tamil Nadu, and Maharashtra.

Ahead of the Kharif sowing season, there has been significant momentum in pre-registering farmers through government agencies such as NAFED and NCCF, which will procure urad from farmers. These efforts are part of the government's strategy to encourage pulse production and make India self-sufficient in urad.

In Madhya Pradesh alone, 8,487 farmers have registered through NCCF and NAFED, while Maharashtra, Tamil Nadu, and Uttar Pradesh have seen pre-registrations of 2,037, 1,611, and 1,663 farmers respectively. The procurement of summer urad under the Price Support Scheme (PSS) by NAFED and NCCF is also in progress.

As of July 6, 2024, the wholesale prices of urad have declined by 3.12% and 1.08% in the Indore and Delhi markets. Similarly, the landed prices of imported urad are also trending downward.

(With inputs from agencies.)