The Centre will soon come out with a financial package for Nafed, the leading government agency for procurement of pulses and oilseeds.

“A financial package is under active consideration of the Government of India and it is likely that a Cabinet Committee of Economic Affairs (CCEA) note would be placed in May 2017 for approval of the Cabinet,” an official release said.

In 2016-17, Nafed procured various commodities worth Rs 5​,​916 crore and earned a tentative profit of Rs 106 crore before interest, which is the highest in the last decade and helped turn around financially, said an official release by the Food & Consumer Affair Ministry.

Terming Nafed as the “pulse arm” of the government, the Ministry said in 2016-17 it had “set a record of procurement” of pulses and oilseeds.

“During the financial year just ended, it has achieved procurement of more than 8.76 lakh tonne pulses (gram 0.2 lakh tonne, masoor 0.03 lakh tonne, moong 1.29 lakh tonne, urad 0.59 tonne and toor 6.65 lakh tonne),” said the release, adding that more than 2.20 lakh tonne of groundnut, copra and other oilseeds were also procured to help the country in creating buffer stocks and stabilising the prices of pulses and oilseeds.

Procurement of rabi oilseeds and pulses, such as mustard seeds, sunflower seeds, gram, masoor etc. has started and Nafed has already procured 2.95 lakh tonnes up to April 30, 2017.

The Ministry said Nafed had also started disposal of the buffer stocks, out of which a “substantial quantity would be supplied to para-military forces and the defence sector and also State governments, as per their requirements under the public distribution system and other such schemes.”