Allow future trading in a regulated manner: Pulses industry

Pulses industry today said the Centre should allow future trading in a neutral and completely regulated manner.

Written by Agencies | Chennai | Published: April 6, 2012 5:43:00 pm

Pulses industry today said the Centre should allow future trading in a neutral and completely regulated manner.

“… the association does not support ban on future trading. Future trading is very much necessary.”,India Pulses and Grains Association,Coordinator-Eastern and North Eastern Region,Anurag Tulshan told reporters here.

According to the Ministry of Agriculture,Consumer Affairs and Food and public distribution,at present forward trading is banned in tur (arhar),urad and rice.

“Futures trading should be there. But,government should have strict regulations and monitor it regularly.”,Tulshan said.

Echoing similar views,International Pulse Trade and Industry Confederation,Honorary Chairman Sudhakar Tomar asked for more stringent norms and demanded that the market should be completely regulated.

To a query on their demands from the government,Tulshan said they have been requesting the Centre to bring pulses in public-distribution system (PDS).

“On long term policy measure,pulses should be brought in PDS. This will actually induce the Indian farmers to grow more pulses,” he said.

According to him,India’s total pulses production is 17.5 million tonnes against the demand of 22 million tonnes. In order to meet consumption demand,the country imports about 5 million tonnes of pulses every year.

India Pulses and Grains Association also said that the government should allow exports of pulses after milling.

“Currently,India imports raw materials but it is not milled. The milling industry remains stagnant (because of that). They should allow exports of pulses after milling (like those practiced in other countries)”,Tulshan said.

According to International Pulse Trade and Industry Confederation’s Tomar,the global pulse production stood at USD 100 billion and production at 60 million tonnes in 90 countries.

Tulshan and Tomar were here to announce the fifth edition of Annual Global Pulses Convention to be held in Dubai later this month.

The four-day event beginning April 21,considered the biggest in the pulses industry,would witness participation from 50 countries,Tulshan said.

Issues to be discussed during the conclave will include increase in pulse production globally,declaring 2016 as the “International Year of Pulses”,he added.

The International Pulses Trade and Industry Confederation,a non-profit organisation,headquartered in Dubai,has about 13 national associations and 5,000 members from 50 countries as its members,he said.

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