New Delhi, August 30: Pulses traders are complaining of harassment by authorities briefed to crack down on hoarders and warned that they might stop importing the commodity compounding its shortage in the market.
“We have been informed by our members about serious harassment of importers in and around port areas, resulting in panic sales,” Pulses Importers Association President K C Bhartiya said in a statement.
Pointing out that the panic sales have led to a steep fall in pulses prices, he warned that “this will result in a complete stoppage of new contracts, which will lead to almost NIL arrival in September and October.
“We anticipate a huge shortage in the market”.
India imports about three million tonnes of pulses every year to meet demand. The country’s production is about 14 million tonnes while demand is 18 million tonnes.
–PTI