The government is working on ways to contain the price rise of pulses by boosting supplies and will decide on Minimum Support Prices (MSPs) for kharif crops such as paddy. The government expects to announce the support prices for farmers in the next two weeks.
The Centre fixes MSPs of various kharif and rabi crops every year based on the recommendations of Commission for Agricultural Costs & Prices (CACP). The nodal agency for procurement and distribution of foodgrains, Food Corporation of India (FCI), procures wheat and rice from farmers at the MSP.
The rate of price rise in pulses has been in the double digit for four consecutive months. Inflation in pulses stood at 15.38% in April, up from 13.22% in March.