Pulse prices drop in welcome relief from inflation

KARACHI:

The prices of pulses have plummeted in the wholesale market following a drop in their prices internationally in a welcome relief to the Pakistani consumers who have been reeling from backbreaking inflation for the past two years.

Pulse, locally known as daal, remains an economical source of nourishment for millions of people as a viable substitute of meat and dairy for protein, minerals, vitamin and other nutrients.

The global pulse prices have tumbled by over $100 per ton, leading to a huge reduction in prices from $860 to under $750 per ton, according to the Wholesale Grocers Association (WGA).

WGA Chairman Rauf Ibrahim attributed the drop in pulse prices on the global market to stoppage of purchases by India and Sri Lanka. However, Pakistan stands out as the only country in the South Asian region still buying pulses to meet its demands. "Local importers are losing millions of rupees due to falling prices in the global market," he added.

As per the association figures, the price of black chickpea has dropped by Rs50 per kg since September. Six ships carrying pulse consignments are scheduled to arrive in Pakistan this month and next, which could further bring down the price.

Ibrahim said that the prices have dropped from Rs400 to Rs360 per kg and is expected to decline further to Rs300 by next month. Dal Mash price has plummeted from Rs500 to Rs425 per kg. Kabuli chickpea price has dropped from Rs400 to Rs355 per kg. Kabuli chickpea (small), which was earlier selling for 320 per kg, is not available at Rs295 per kg.

The WGA called upon the Karachi commissioner to implement measures to ensure the benefits of reduced pulse prices are passed on to consumers at the retail level.