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LATEST NEWS UPDATES | Distress sale of pulses hits Maharashtra; state rushes off team to Centre for relief -Nanda Kasabe

Distress sale of pulses hits Maharashtra; state rushes off team to Centre for relief -Nanda Kasabe

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published Published on Sep 28, 2017   modified Modified on Sep 28, 2017
-The Financial Express

Pune: Even as the government of Maharashtra is sending its top officials to the national capital to follow up on its proposal to the Centre for the procurement of moong and urad under the government’s Minimum Support Price ( MSP) scheme, farmers have begun distress sales. Maharashtra cooperation minister Subhash Deshmukh said the Centre’s permission is expected over the next two to three days, failing which the state government may have to take its own decision. Farmers in the key pulses growing regions of Maharashtra have begun selling moong and urad at distress prices way below the Minimum Support Price (MSP) since a major portion of the produce has been damaged because of the recent rains. The government, meanwhile, has issued circulars to most agriculture produce market committees ( APMCs) in the state, directing them not to allow farmers to sell below MSP.

The minister said that farmers have been directed to take advantage of the state’s Commodity Mortgage Scheme where farmers can keep their produce and are issued warehousing receipts at interest and are allowed to sell after prices improve. Tur, moong, urad, soyabean, sunflower, gram, rice (paddy), jowar, bajra, maize, wheat, cashew and turmeric are included in the scheme of farm merchandise. Under this scheme, 75% of the total value of the pledged land in the market committee warehouse gets 6% interest for six months. According to Hukumchand Kalantry, president, Latur Dal Millers Association and a major pulse trader based out of Latur, a key pulses growing region in the state, the recent rains arrived when these pulses were being harvested and caused damage. “Most states including Rajasthan have begun harvesting moong and urad at the same time, causing a glut in the market. Moreover, the rains caused damage because of which the farmer can’t hold onto his crop,” he said.

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The Financial Express, 27 September, 2017, http://www.financialexpress.com/market/commodities/maharashtra-farmers-resort-to-distress-sale-of-pulses/872133/


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