In anticipation of the upcoming operationalisation of online stock monitoring from 15 April 2024, the government has issued a warning against forward trading, a practice known to distort the market, to ensure sufficient supplies of pulses in the country.
According to an official statement, Consumer Affairs Secretary Nidhi Khare has taken proactive steps to ensure the smooth availability of pulses in the country.
A crucial aspect highlighted in recent meetings is the emphasis on increased transparency and stock monitoring. Importers, millers, stockists, and retailers will now be required to declare their pulse stocks, including imported Yellow Peas, on a weekly basis.
Starting from 15 April 2024, this declaration will become mandatory on the online portal https://fcainfoweb.nic.in/psp/.
During the meetings, Khare addressed challenges related to pulse imports from Myanmar. These challenges included the impact of recent exchange rate adjustments on import prices and the current availability of pulses among Myanmar exporters.
The Indian Mission informed that the Rupee Kyat Settlement Mechanism has been operationalised since 25 January 2024. This mechanism aims to simplify trade transactions and enhance efficiency. Guidelines for payment procedures under the Special Rupee Vostro Account (SRVA) were released by the Central Bank of Myanmar on 26 January 2024. Notably, this mechanism applies to both sea and border trade, covering goods as well as services.
These proactive measures underscore the government’s commitment to ensuring a stable and transparent pulse market, vital for meeting the country’s food security needs.
