New Delhi: With major retail chains yet to reduce pulse prices and continuing to profit from a widening gap between wholesale and retail rates, the consumer affairs ministry has asked Reliance Retail to lower both prices and profit margins, two people aware of the development said.
The ministry is of the view that once India’s largest retailer by revenue adopts these measures, other retailers will follow.
The government had earlier directed major retail chains to reduce retail prices, as reported by Mint on 8 October. But, according to data from the department of consumer affairs (DoCA), pulse prices have actually increased since then.
The average retail price of tur on 7 October was ₹163.31 per kg, urad was ₹124.79 per kg and chana dal ₹94.32 per kg.
However, by 14 October, instead of a noticeable reduction, the retail price of tur had come down only marginally to ₹163.02 per kg, while urad had increased to ₹125.07 per kg, and chana dal had risen to ₹94.56 per kg, showing minimal impact from the directive.
As of 14 October, the average wholesale price of chana dal was ₹8,740.78 per quintal, tur was ₹15,333.41 per quintal, and urad was ₹11,517.26 per quintal.
Key role in food inflation
Pulses play a crucial role in India's food inflation due to their significance as a staple and a key source of protein.
Factors such as demand-supply gaps, seasonal production issues, high dependency on imports, and rising input costs have contributed to the inflationary pressure on pulses.
