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Trade Trends News
09-04-2024
According to a notification from the Directorate General of Foreign Trade (DGFT), the government on Friday extended the duty-free import period for alternative yellow peas by two months to June 30.
The DGFT stated, "All shipments (already loaded) of imported yellow peas with a bill of lading date up to June 30 must be compulsorily registered under the online import monitoring system."
In 2017, a 50% tariff was imposed on the import of pulses to encourage domestic production.
So far, Canada and Russia have imported about one million metric tons (MT) of yellow peas under the free import regime.
An official told wealthy individuals, "It is expected that the import of yellow peas will help offset the anticipated production gap due to the decrease in planting area and weather-related yield impacts."
Currently, the mandi price for chana is around 6,000 rupees per quintal, while the minimum support price (MSP) for the 2024-25 season is 5,440 rupees per quintal.
Meanwhile, due to the higher prices of chana, which accounts for 50% of the country's production, institutions such as the National Agricultural Cooperative Marketing Federation of India (NAFED) are unable to conduct MSP procurement operations under the price support scheme.
Currently, the country's pulse production is 28 tons, which is basically sufficient to meet domestic demand. However, sources say there is "a slight mismatch" in the production and consumption of pulse varieties such as tur, urad, and masoor.
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