iGrain India - New Delhi. Last week, the domestic market price of unprocessed gram increased by about 5 percent, while during the last one month it increased by more than 10 percent.
The trend of rising and strengthening in the price of gram has continued for the last few months and even after the arrival of new goods, it did not soften.
Due to the price of gram being 30-35 percent higher than the minimum support price (MSP), government agencies are facing great difficulty in purchasing it from farmers for the central buffer stock.
A trader from Maharashtra says that firstly, this time the domestic production of gram has been much less than the government estimate and secondly, in the expectation of further increase in prices, farmers are trying to hold a huge stock of this important pulse. This is leading to a rise in prices.
Dal millers, traders and stockists are all keen to build stock of gram by purchasing it as much as possible because they are confident that its market price will increase even more in the off season of supply.
In view of the rising prices of gram, the government made its import duty free on 7 May 2024. Earlier, a customs duty of 66 percent was applicable on Desi gram, but now there will be no duty on its import till 31 October 2024. Similarly, the customs duty of 55 percent on the import of yellow peas has been postponed till 31 October 2024. Its import from Australia has started.
Although gram was being imported from there earlier also, but its quantity was limited. There has been a good import of Desi gram to India from the African country- Tanzania.
It is understood that the ship loaded with 58 thousand tonnes of gram was going somewhere else earlier but later it was diverted towards India.
According to trade analysts, consumers are not likely to get much relief from the record price of gram at the moment because its limited stock is left in the international and the new crop is still far away.
Here, the demand for gram flour is likely to increase during the monsoon season and after that the festival demand will start coming out in it. Producers are waiting for the price of gram to increase further.